NEW YORK, May 28. /TASS/. Telegram messenger co-founder Pavel Durov plans to raise about $1.5 bln from floating five-year bonds with the interest rate of 9% per annum on May 29, The Wall Street Journal (WSJ) reported, citing sources.
According to the newspaper, the company plans to use money earned for repaying outstanding debts on its bonds floated in 2021 and maturing in March 2026. US investment company BlackRock and UAE sovereign fund Mubadala are among investors, the news outlet said. US hedge fund Citadel may also take part in the float.
Investors in new bonds will have an option to convert their debt holdings into stocks if the company makes IPO in the future but such scenario is of low probability, WSJ said.
Durov said earlier that Telegram earned more than $1 bln in revenues and the messenger became profit-making for the first time in three years since monetization start.
