Telegram, a messaging platform, raised $1.7 billion through a recent bond offering with a 9% coupon rate. The funds will be used for debt repayment and business development.
Bond Offering Details
Telegram has completed a bond offering totaling $1.7 billion, significantly exceeding its initial goal of $1.5 billion. Of this amount, $955 million will be used to pay off debt from previous bond issues, while the remaining $745 million will fund growth and operational expenses. This decision was made in response to high investor interest.
Future Steps
Co-founder Pavel Durov noted that the demand exceeded expectations and expressed gratitude to the investment funds for their support. Additionally, investors participating in the sale will have the option to purchase shares of Telegram at a 20% discount during a potential future IPO.
Partnership with xAI and Market Impact
The bond sale coincided with a recent agreement between Telegram and xAI, Elon Musk's artificial intelligence company. Telegram and xAI agreed to give Telegram users access to the Grok platform for one year, which will also bring in $300 million in cash and equity. The accompanying market interest has also influenced the price of Toncoin, which surged over 20% following the partnership announcement.
Telegram continues to draw investor attention through its ability to adapt to market demands and develop its services. The bond offering and new partnership agreements highlight the company's positive dynamics.
