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Telegram will place bonds for $ 1 billion for a closed circle of investors

Telegram will place bonds for $ 1 billion for a closed circle of investors

Telegram Group Inc. (the owner of the Telegram messenger) intends to raise about $ 1 billion through the placement of bonds, Kommersant reports.

Bonds will be convertible, securities will not be placed on the exchange. They will be released for a period of five years, investors are pre-promised income of 7-8%. If Telegram goes public during this time, investors will be offered to convert debt into shares at a 10% discount to the placement price, the publication specifies.

The search for those wishing to purchase the bonds of the messenger is carried out among a narrow circle of investors from Russia, Europe, Asia and the Middle East. The minimum check for participation is $ 50 million, but it can be reduced to $ 10 million, according to Kommersant’s sources.

The founder of Telegram, Pavel Durov, has long been looking for $ 1 billion due to the upcoming settlements with investors of the closed TON blockchain project, the deadline comes in April this year.

While the messenger does not generate income, it is financed mainly from Durov’s personal funds. Earlier it was reported that Telegram will begin to monetize in 2021, the launch of paid features has already been announced.

Six years ago, Telegram’s active audience was about 60 million users, at the beginning of 2021 it exceeded 500 million.