Arab funds Mubadala and Abu Dhabi CP buy Telegram bonds worth $ 150 million

Two investment funds from the UAE Mubadala and Abu Dhabi Catalyst Partners bought Telegram bonds worth $ 150 million. Writes about this Emirates News Agency. Both companies have invested $ 75 million in the messenger.

Both companies have purchased five-year convertible bonds. According to a Vedomosti source, $ 150 million is the largest amount buyers have paid for the company’s bonds. It is also argued that half of the company’s bonds were bought for themselves, and the remaining 50% will be placed for sale to European and Russian funds and banks.

After receiving the investment, Telegram, headquartered in Dubai, intends to open an Abu Dhabi office. Thus, the company intends to expand its presence in the region.

“We are honored to receive a $ 150 million investment from Mubadala and Abu Dubai Catalyst Partners. We hope for the further development of this strategic partnership not only in the Middle East and North Africa but throughout the world, ”said the founder of the messenger Pavel Durov.

The first rumors about the sale of bonds appeared in mid-February. Kommersant’s Sources claimed that the messenger plans to attract a billion dollars in investments to pay off debts to TON investors.

In mid-March, RBC reported that Telegram had placed five-year bonds worth a billion dollars. The cost of each security was $ 1,000, and the starting lot for participation was $ 500,000. The first bond payments are scheduled for September 2021.