Telegram, helmed by Pavel Durov, is embarking on a bond placement to refinance its $2 billion debt, targeting some ₪300 million with Israeli insurers, pension funds and investment firms. The new bonds yield 9% per annum in USD, and existing series holders may exchange their bonds for company shares under specified conditions. Phoenix Hitum, part of the Phoenix Insurance Group, is underwriting Telegram’s interests in Israel.

source: NEWSru.co.il

Keep an eye on the daily Telegram news from OnlyTG.