Bloomberg: Telegram Issues $1.7 Billion Convertible Bond for Debt Restructuring Financing

BlockBeats News, May 29th, according to Bloomberg, Telegram raised $1.7 billion through a convertible bond to repay existing debt and extend the debt maturity.

According to Bloomberg's compiled data, the fast-growing messaging platform will use part of the funds raised from the five-year new bonds to repurchase $955 million of debt originally due in 2026. In addition, this transaction also raised an additional $745 million in new funds.