According to PANews, Telegram has successfully issued $1.7 billion in five-year convertible bonds. This move aims to refinance $955 million of existing debt due in 2026 and raise an additional $745 million. The bonds carry a coupon rate of 9%, which is 200 basis points higher than the initial bonds issued in 2021. Investors will have the option to redeem the bonds at 80% of the IPO price if Telegram goes public. Currently, Telegram boasts over 1 billion users, with revenue expected to surpass $1 billion in 2024. The company holds more than $500 million in cash reserves, excluding cryptocurrency assets.