Telegram issues $1.70 billion convertible bond to restructure debt structure

Telegram announced the successful issuance of a $1.70 billion five-year convertible bond designed to optimize its debt structure. The messaging platform will use a portion of the proceeds raised to repurchase $955 million of debt due in 2026, while adding $745 million. The fundraising will help Telegram extend the maturity of its debt, improve its financial position and support its rapid growth strategy.