TLDR
- Telegram has secured $1.5 billion in funding through a bond issuance led by BlackRock and Mubadala.
- The five-year bonds offer a 9 percent yield and include a conversion option into equity at a discounted rate.
- Telegram will use the new funds to repurchase the remaining debt from its 2021 bond issue, which is due in March 2024.
- CEO Pavel Durov announced that Telegram Premium now has over 15 million paid subscribers, doubling in one year.
- Despite facing legal restrictions in France, Durov received permission to travel to Dubai and hinted at major upcoming news.
Telegram has secured $1.5 billion through a bond issuance led by major backers including BlackRock and Mubadala. The five-year convertible bonds offer a 9% yield and an option to convert into stock at a discounted rate. This funding comes at a key moment as Telegram signals significant platform developments ahead.
Telegram Raises Bonds Backed by BlackRock
Telegram priced its new bonds with a 9% annual yield, attracting both new and existing institutional participants. BlackRock and Mubadala joined the round, reaffirming their ongoing support in the messaging platform’s long-term growth. Sources familiar with the deal confirmed that both firms also held bonds from the company’s 2021 issuance.
The proceeds will be used to repurchase Telegram’s outstanding 2021 bonds, which are due in March 2024. So far, Telegram has already redeemed around $400 million from that tranche using internal reserves. The remaining amount will now be cleared through this new bond transaction.
This bond issuance includes a conversion clause similar to previous rounds, allowing participants to exchange bonds for shares once Telegram goes public. While no IPO timeline has been announced, this clause enhances the bond’s appeal. Current market conditions and CEO Pavel Durov’s legal restrictions in France may delay a public offering.
Durov Returns to Dubai Amid Legal Battle
Telegram Premium recently surpassed 15 million paid users, doubling its base in just one year. This signals sustained user growth and product monetization despite ongoing legal pressure on CEO Pavel Durov. The rise in subscription revenue supports Telegram’s operational funding strategy.
Although Durov remains under French legal scrutiny, he continues managing company affairs remotely. Authorities denied his May 12 request to travel to the U.S. for business meetings. However, he received permission to travel back to Dubai, his primary place of residence.
Durov confirmed via social media that he would return to Dubai next week, ending a months-long lockdown in France. He added that a major announcement is expected soon, although no specifics have been disclosed. Market watchers expect updates regarding Telegram’s platform features or financial roadmap.
🇦🇪 I’ll be in Dubai the first week of June — good news ahead.
— Pavel Durov (@durov) May 28, 2025
NFT Marketplace Launch Adds to Platform Momentum
Earlier this month, Telegram introduced a new in-app Gift Marketplace integrated with its NFT platform. The move adds digital collectibles to Telegram’s growing portfolio of monetized services. This step aligns with the firm’s vision to expand beyond messaging into blockchain-based digital commerce.
Durov introduced the NFT initiative through his Telegram channel, highlighting the platform’s evolving ecosystem. It represents Telegram’s ongoing commitment to innovation despite external challenges. The launch follows a series of updates enhancing the user experience for both free and premium users.
With bond funding secured and strong subscription growth, Telegram is preparing for a new phase of expansion. Platform diversification and financial stability indicate a strong positioning ahead. According to company statements, additional product announcements may follow soon.