Telegram Dodges Default with $1.5B Bond Hail Mary—VCs Breathe (For Now)

Messaging giant Telegram just pulled off a financial tightrope walk—issuing $1.5B in bonds to stave off creditors. No crypto moonshot here, just old-school debt shuffling.

Wall Street’s playbook: When in doubt, borrow. The move buys time for profitability promises that still smell like vaporware. But hey, at least it wasn’t another ‘security token’ rug pull.

One investor muttered: ‘They’ll probably pivot to AI chatbots before repaying.’ Classic tech-finance synergy.

Telegram is planning to issue $1.5 billion in five-year bonds with a 9% interest rate to repay its 2021 debt. Major investors like BlackRock, Mubadala, and newcomer Citadel are backing the deal. The bonds come with an option for investors to convert them into equity at a discount if Telegram goes public. This MOVE aims to strengthen Telegram’s financial position while preparing for a potential future IPO.