Telegram plans to issue $1.5B in five-year bonds at 9% interest to repay 2021 debt. Investors include BlackRock, Mubadala, and newcomer Citadel. Bonds can convert to equity at a discount if Telegram goes public.

https://www.wsj.com/finance/telegram-set-to-raise-1-5-billion-in-bond-issue-despite-ceos-legal-woes-053284f0