PANews reported on May 29 that according to Bloomberg, Telegram successfully issued $1.7 billion in five-year convertible bonds to replace the $955 million old bonds due in 2026 and raise an additional $745 million. The coupon rate of the bonds is 9%, 200 basis points higher than the first bond issued in 2021. If Telegram goes public, investors can redeem it at 80% of the IPO price. Telegram currently has more than 1 billion users, revenue will exceed $1 billion in 2024, and cash reserves exceed $500 million (excluding crypto assets).