In February 2021, VTimes, an independent economic publication, reported that Telegram was planning to issue $ 1 billion in bonds to be offered to a narrow circle of investors. At the same time, potential buyers were sent documentation, which, among other things, indicated that the messenger had $ 600 million in debt to investors, which would need to be repaid by the end of April 2021. It turned out that Durov managed to temporarily correct the situation – the messenger managed to attract one billion dollars of additional financing through the issue of bonds.
The first information about the successful placement of bonds appeared on March 12, and today, March 15, Bloomberg confirmed the information. According to her, the minimum lot for participation in the purchase of bonds was 500 thousand dollars, and the par value of one security was 1000 dollars. At the same time, the issue of coupons is scheduled for September this year, and the total term of the bonds is five years. Moreover, Forbes sources report that there were twice as many applications for the purchase of bonds as the planned volume of issued securities. The management of the messenger could well have raised one and a half billion dollars, but, apparently, abandoned this venture.
However, it is worth noting that the issue of bonds and the attraction of such a significant amount is only a temporary solution to the financial problems of the messenger, because, in fact, Telegram borrowed one billion dollars from investors, which after five years will need to be returned. Moreover, the company placed bonds at 7% per annum – this was reported to RBC by a source who was able to purchase these securities. That is, Telegram now not only “owes” a billion to investors, but also undertakes to pay them $ 70 million once a year.
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