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Telegram secures $330 million in bond sales
Global Banking & Finance Review®
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(Reuters) – Popular messaging platform Telegram raised $330 million through bond sales last week, founder and CEO Pavel Durov said on Monday.
(Reuters) – Popular messaging platform Telegram raised $330 million through bond sales last week, founder and CEO Pavel Durov said on Monday.
The offering was oversubscribed and terms of the bond were favorable for the company, Durov wrote on his own Telegram channel.
“The increased demand for our bonds shows that global financial institutions value Telegram’s growth in audience and monetization,” he wrote.
In an interview with the Financial Times last week, Durov said the company was “hoping to become profitable next year” as it moves closer to a stock market listing.
Durov said on Monday the bond sale “will further solidify our position as an independent platform that is able to challenge the “Goliaths” of our industry”.
(Reporting by Harshita Mary Varghese; Editing by Krishna Chandra Eluri)
A corporate bond is a debt security issued by a corporation to raise capital. Investors who purchase these bonds are essentially lending money to the company in exchange for periodic interest payments and the return of the bond's face value at maturity.
Debt instruments are financial assets that represent a loan made by an investor to a borrower. Common examples include bonds, loans, and debentures, which require the borrower to pay back the principal amount along with interest.
An oversubscribed bond offering occurs when demand for a bond exceeds the amount available for sale. This indicates strong investor interest and can lead to favorable terms for the issuer.
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