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Telegram Raises $1.7B Via Convertible Bonds: Bloomberg
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Francisco Rodrigues
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By Francisco Rodrigues, AI Boost|Edited by Stephen Alpher
Updated May 29, 2025, 1:40 p.m. Published May 29, 2025, 1:39 p.m.
- Telegram raised $1.7 billion by issuing convertible bonds.
- $955 million will be used for bond buyback and $745 million for operations and growth.
- Investors can convert bonds to equity if Telegram goes public before maturity.
Telegram has secured $1.7 billion by issuing five-year convertible bonds, aiming to refinance existing liabilities and push out repayment deadlines.
The messaging app, which now counts over 1 billion users, will use $955 million of the new funds to buy back bonds maturing in 2026, Bloomberg reports. The remaining $745 million gives the company fresh capital to bolster its operations or invest in growth.
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Investors in the new bonds will have a shot at converting their holdings into equity if Telegram goes public before the notes mature. In that scenario, they would be entitled to redeem at 80% of the initial public offering price.
The tender offer closed May 28, with settlement expected on June 5. CoinDesk previously reported the round drew interest from from both returning investors such as the world’s largest asset manager BlackRock and Abu Dhabi’s sovereign wealth fund Mubadala, as well as new entrants including hedge fund Citadel
The notes carry a 9% coupon, two percentage points above Telegram’s previous $2.35 billion bond issued in 2021.
Telegram passed $1 billion in revenue last year and holds over $500 million in cash reserves, excluding crypto, Bloomberg’s report adds.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
Francisco is a reporter for CoinDesk with a passion for cryptocurrencies and personal finance. Before joining CoinDesk he worked at major financial and crypto publications. He owns bitcoin, ether, solana, and PAXG above CoinDesk’s $1,000 disclosure threshold.
“AI Boost” indicates a generative text tool, typically an AI chatbot, contributed to the article. In each and every case, the article was edited, fact-checked and published by a human. Read more about CoinDesk’s AI Policy.
