Telegram Raises $1.5B in Bond Sale Backed by BlackRock and Citadel

Messaging giant Telegram is securing at least $1.5 billion through a five-year bond offering with a 9% yield. The deal has attracted heavyweight investors, including BlackRock, Mubadala, and Citadel. Proceeds will refinance Telegram’s 2021 debt ahead of its March maturity, with conversion options into equity at a discount should the company pursue an IPO.

The firm’s financial turnaround is stark—swinging from a $173 million loss in 2023 to $540 million in profit this year on $1.4 billion revenue. Growth drivers include ad expansion and monetization features like in-app gifts. Telegram forecasts over $700 million profit for 2025, leveraging its 1 billion monthly users and 15 million paid subscribers.

Notably, Libre plans to tokenize $500 million of Telegram’s debt on TON, the Layer 1 blockchain Telegram originally developed. This move underscores the deepening convergence between messaging platforms and crypto infrastructure.