Telegram issues $1 billion in bonds

Telegram Group has placed its own bonds for the first time and raised $1 billion, RBC reports. The bonds are placed until 2026 at 7% per annum, the first coupon payment is scheduled for September 2021.

According to the publication's sources, applications from those wishing to purchase bonds were accepted from March 9, and the placement was completed on March 12. The minimum lot for participation was $500,000.

As RBC notes, demand for Telegram Group securities was moderate - the bonds were placed at the upper limit of the coupon rate.

• It is assumed that the funds raised as a result of the placement of bonds will be used by Telegram Group primarily to pay investors of the failed TON project. In total, according to VTimes , the Telegram group of companies must return almost $626 million to TON investors by April 30.