NIX Solutions: Telegram Plans Bond Sale Despite Hurdles

Telegram is moving forward with plans to raise funds in the United States by offering bonds, even though its founder, Pavel Durov, is currently unable to leave France due to ongoing criminal charges. According to the Wall Street Journal, this complex situation is not expected to prevent the company from securing investor interest.

Sources say Telegram plans to raise at least $1.5 billion by issuing five-year bonds with a 9% annual yield. The funds will be used to repurchase the company’s outstanding debt from a 2021 bond issuance, which matures in March 2026. Telegram has already redeemed $400 million worth of those obligations.

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The investor pool includes existing stakeholders like BlackRock and Mubadala, the state investment firm of Abu Dhabi. New investors are expected to include Citadel and other hedge funds. As with the previous bond sale, participants may have the option to convert debt into shares at a discount if Telegram chooses to go public. However, given Durov’s legal complications and broader market volatility, this scenario remains uncertain.

Durov, though currently free on bail, is not allowed to leave France without permission. On May 12, he requested authorization to travel to the U.S. to hold investor meetings, but the French prosecutor’s office denied the request, calling it “neither convincing nor justified.” Earlier this year, in March and April, he was granted permission to travel to Dubai, where both he and Telegram’s headquarters are based. His current timeline for remaining in France is unclear, but we’ll keep you updated as the situation evolves.

Telegram’s Growth Continues Despite Setbacks

Despite these legal and logistical challenges, Telegram’s business continues to grow. In March, Durov announced that monthly active users had reached 1 billion. More recently, he stated that the platform now has over 15 million paid subscribers—double the number from a year earlier.

Financially, Telegram is showing strong performance, adds NIX Solutions. In 2024, the company reported $1.4 billion in revenue and $540 million in profit, compared to $342 million and $173 million in 2023. By the end of 2025, projections point to $2 billion in revenue and $700 million in profit. Telegram’s financial ecosystem is also supported by partnerships with developers who launch apps and bots that accept payments in “stars,” the platform’s internal currency for gifts and services.

Telegram remains active and forward-looking in both financial and user growth, despite the ongoing legal situation surrounding its founder.