Telegram to Raise $1.5 Bn from BlackRock and Other Investors

Telegram has announced the issuance of $1.5 bn in convertible bonds. One of the key buyers is expected to be U.S. investment firm BlackRock, according to The Wall Street Journal (WSJ).

Other potential buyers of the bonds include Abu Dhabi-based Mubadala and U.S. hedge fund Citadel.

The bonds offer investors a 9% annual yield and the option to convert them into company shares after Telegram’s IPO. Meanwhile, the messenger’s operational and financial performance is improving—Telegram ended 2024 with a net profit of $540 mln.

Experts predict that Telegram will have no difficulty raising funds. The company’s bonds appear attractive despite the ongoing criminal case against Telegram founder Pavel Durov in France.

Part of the proceeds from the bond issuance will be used to repurchase a previous bond series due in 2026.

Over the past year, Telegram’s number of paid subscribers has doubled, reaching 15 million by May 2025. Meanwhile, the market for in-app mini-applications and advertising within Telegram continues to expand.

Kursiv Uzbekistan reports that Instagram flagged a post by Durov quoting a Roman emperor as dangerous.