Telegram issues $1.7 billion convertible bonds, partially for debt swaps According to Bloomberg, Telegram has successfully issued $1.7 billion in five-year convertible bonds to replace $955 million in old bonds due in 2026 and raise an additional $745 million in financing. The bond coupon rate is 9%, which is 200 basis points higher than the initial bond issuance in 2021. If Telegram goes public, investors can redeem it at 80% of the IPO price. Telegram currently has over 1 billion users, with revenue exceeding 1 billion US dollars in 2024 and cash reserves exceeding 500 million US dollars (excluding cryptocurrency assets).