Telegram has successfully issued $1.7 billion in five-year convertible bonds, securing $745 million in new financing. This move also replaces $955 million in existing bonds due in 2026. The bonds carry a 9% coupon rate, 200 basis points higher than the company's initial bond issuance in 2021. Investors have the option to redeem the bonds at 80% of the IPO price if Telegram goes public. The messaging platform boasts over 1 billion users and anticipates revenue exceeding $1 billion in 2024, with cash reserves surpassing $500 million, excluding crypto assets.