Telegram to Increase Volume of Bond Offering Up to $1.5B
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Telegram could increase the size of its bond offering from $1B to $1.5B due to demand from investors. Investors have submitted twice as many bids for bonds as the company intended to offer, Forbes has reported citing several sources. One of these has said by the evening of March 10, the book of orders was nearly three times oversubscribed.

Bond yields range from 6% to 7%, however, these could be closer to the lower limit, one of the sources has told Forbes.

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The application period was supposed to end on March 9 at 19:30 MSK, as indicated in a note sent to investors published by VTB. However, VTimes and Forbes sources have reported the last day was actually March 10.

Earlier it has been reported Telegram plans to raise $1B by placing bonds among a selected circle of investors over a 5-year period. If the company eventually goes public, bondholders will be able to convert them into Telegram shares at a 10% discount to the market price.

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