worldcoinindex.com
Telegram is set to raise $1.5 billion through a fresh bond sale this week, signaling rising investor confidence despite legal scrutiny surrounding founder Pavel Durov.
According to sources familiar with the matter, including The Wall Street Journal, the 5-year bonds will offer a 9% yield and allow for conversion to equity at a discount, should Telegram ever go public — though no IPO is expected soon. Investors already committed to the deal include Citadel, BlackRock, and Mubadala, demonstrating wide institutional interest.
The proceeds will be used to refinance Telegram’s earlier 2021 bonds, which are due in March 2026. Already, $400 million of that debt has been bought back.
This financial pivot follows Telegram's dramatic turnaround in profitability. A recent investor presentation, cited by the Financial Times, revealed Telegram earned $540 million in profit in 2024, compared to a $173 million loss in 2023. Revenues surged to $1.4 billion, driven by premium subscriptions, advertising, and expanding TON blockchain integrations.
The announcement also pushed Toncoin (TON) up by 6% to approximately $3.20, underlining the token’s close correlation to Telegram-related developments. Last year, TON had dropped 18% after Durov was briefly detained in France, only to rebound following his release.
The legal backdrop remains complex. French authorities have pressed preliminary charges against Durov over alleged non-cooperation in criminal investigations involving Telegram. However, after returning to Dubai earlier this year, Durov publicly stated that Telegram has "exceeded legal expectations" in content moderation and law enforcement cooperation.
In a parallel development, the TON Foundation appointed former Visa executive Nikola Plecas as VP of Payments. Plecas will lead TON’s global payments strategy, focusing on partnerships, compliance, and deeper integration with Telegram's user ecosystem.
As Telegram navigates regulatory hurdles and fuels its blockchain ambitions, the strong response to its bond offering signals growing confidence in the platform’s long-term financial and technological trajectory.