Telegram issues $1.7 billion in convertible bonds for debt swap financing

Odaily Planet Daily News Telegram 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 is 9%, 200 basis points higher than the first bond issued in 2021. If Telegram goes public, investors can redeem it at 80% of the IPO price. (Bloomberg)