Last week, Telegram Group released the firstdollar bonds at 7% per annum in the amount of $ 1 billion. The minimum lot was 500 thousand dollars. The bonds were placed until 2026 and can be converted into Telegram shares with a 10% discount if the company goes public.
Telegram's five-year bonds provide for coupon payments every six months, the face value of one security was $ 1,000. The first bond payments are scheduled for September 2021.
Placement was carried out directly and directedto collect additional funds necessary to settle the debts incurred by Telegram as a result of the unsuccessful launch of the TON blockchain platform and the Gram cryptocurrency.
TON Initial Token Offering (ICO) wassuspended by the decision of the New York court at the request of the US financial regulator SEC, which considered that the Gram cryptocurrency is a security and did not go through the appropriate registration procedure. Settlement with TON creditors should be completed by April 30, 2021.