{"id":104232,"date":"2025-06-02T00:00:00","date_gmt":"2025-06-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/mubadala-invests-in-telegrams-usd-1-7-bn-convertible-bond-issuance\/"},"modified":"2025-06-02T00:00:00","modified_gmt":"2025-06-02T00:00:00","slug":"mubadala-invests-in-telegrams-usd-1-7-bn-convertible-bond-issuance","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/06\/02\/mubadala-invests-in-telegrams-usd-1-7-bn-convertible-bond-issuance\/","title":{"rendered":"Mubadala invests in Telegram\u2019s USD 1.7 bn convertible bond issuance"},"content":{"rendered":"

Mub<\/strong>adala was among the institutional investors backing a USD 1.7 bn convertible bond <\/strong>issuance from Telegram<\/strong>, joining other existing backers such as US-based BlackRock<\/a>, Bloomberg<\/a> reports. Telegram, the widely used messaging app, previously secured investment from Mubadala in its 2021 bond sale. The latest issuance moved forward despite mounting legal scrutiny facing CEO Pavel Durov in France.<\/p>\n

The five-year notes, priced at a 9% yield, give holders the option to redeem at 80% of the IPO price if Telegram lists before maturity<\/strong> \u2014 similar to terms in its 2021 offering, according to undisclosed sources familiar with the matter. <\/p>\n

A portion of the proceeds will be used to repurchase USD 955 mn of its debt maturing in 2026<\/strong>, while the remainder of the issuance will see Telegram raising USD 745 mn in new financing. \u201cWith this new funding, we now have more than enough resources to repay the remaining portion of our 2026 bonds,\u201d Durov said.<\/p>\n

ICYMI-<\/strong> Durov, who returned to Dubai earlier this year<\/a>, faces preliminary charges in France of failing to assist authorities investigating unlawful activity on the platform. Durov sought special permission to travel to the US for talks with investors last month but French prosecutors rejected the request, The Wall Street Journal<\/a> reports. The company was also fined USD 80k<\/a> by a Moscow court for allegedly for not removing content it says promoted terrorist attacks, pro-Ukrainian actions, and calls for anti-government protests. <\/p>\n

Mubadala \u2014 the <\/strong>most active<\/a><\/strong> sovereign wealth fund last year \u2014 continues expanding in private credit. <\/strong>Its private credit portfolio reached USD 20 bn<\/a> bn in 2024, with the asset class delivering its strongest performance for a third year<\/a> running. <\/p>\n","protected":false},"excerpt":{"rendered":"

The new bonds can be redeemed at 80% of the IPO price if Telegram goes public before the notes mature<\/p>\n","protected":false},"author":1,"featured_media":104233,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1546],"tags":[523,1391,68,7,1343,1026],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-104232","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-blackrock","tag-debt","tag-debt-watch","tag-enterpriseam-uae","tag-mubadala","tag-telegram","wpautop","entry"],"acf":{"mongo_id":"4f1e6be3-4ef7-4ffa-8fd0-2d1830b38742","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/5\/1595.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Mubadala invests in Telegram\u2019s USD 1.7 bn convertible bond issuance","related_issue":[104225],"teaser":"The new bonds can be redeemed at 80% of the IPO price if Telegram goes public before the notes mature","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/6\/.bce1f358-3bba-47c0-af34-68aa2d50fbb3.mp3"},"yoast_head":"\nMubadala invests in Telegram\u2019s USD 1.7 bn convertible bond issuance - UAE<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/uae\/2025\/06\/02\/mubadala-invests-in-telegrams-usd-1-7-bn-convertible-bond-issuance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mubadala invests in Telegram\u2019s USD 1.7 bn convertible bond issuance\" \/>\n<meta property=\"og:description\" content=\"The new bonds can be redeemed at 80% of the IPO price if Telegram goes public before the notes mature\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/uae\/2025\/06\/02\/mubadala-invests-in-telegrams-usd-1-7-bn-convertible-bond-issuance\/\" \/>\n<meta property=\"og:site_name\" content=\"UAE\" \/>\n<meta property=\"article:published_time\" content=\"2025-06-02T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/1595.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2025\/06\/02\/mubadala-invests-in-telegrams-usd-1-7-bn-convertible-bond-issuance\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2025\/06\/02\/mubadala-invests-in-telegrams-usd-1-7-bn-convertible-bond-issuance\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Mubadala invests in Telegram\u2019s USD 1.7 bn convertible bond issuance\",\"datePublished\":\"2025-06-02T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2025\/06\/02\/mubadala-invests-in-telegrams-usd-1-7-bn-convertible-bond-issuance\/\"},\"wordCount\":272,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2025\/06\/02\/mubadala-invests-in-telegrams-usd-1-7-bn-convertible-bond-issuance\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/1595.jpg?fit=%2C&ssl=1\",\"keywords\":[\"BlackRock\",\"debt\",\"DEBT WATCH\",\"EnterpriseAM UAE\",\"Mubadala\",\"Telegram\"],\"articleSection\":[\"DEBT WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2025\/06\/02\/mubadala-invests-in-telegrams-usd-1-7-bn-convertible-bond-issuance\/\",\"url\":\"https:\/\/enterpriseam.com\/uae\/2025\/06\/02\/mubadala-invests-in-telegrams-usd-1-7-bn-convertible-bond-issuance\/\",\"name\":\"Mubadala invests in Telegram\u2019s USD 1.7 bn convertible bond issuance - UAE\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2025\/06\/02\/mubadala-invests-in-telegrams-usd-1-7-bn-convertible-bond-issuance\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2025\/06\/02\/mubadala-invests-in-telegrams-usd-1-7-bn-convertible-bond-issuance\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/1595.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2025-06-02T00:00:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2025\/06\/02\/mubadala-invests-in-telegrams-usd-1-7-bn-convertible-bond-issuance\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/uae\/2025\/06\/02\/mubadala-invests-in-telegrams-usd-1-7-bn-convertible-bond-issuance\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2025\/06\/02\/mubadala-invests-in-telegrams-usd-1-7-bn-convertible-bond-issuance\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/1595.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2025\/5\/1595.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2025\/06\/02\/mubadala-invests-in-telegrams-usd-1-7-bn-convertible-bond-issuance\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/uae\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Mubadala invests in Telegram\u2019s USD 1.7 bn convertible bond issuance\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#website\",\"url\":\"https:\/\/enterpriseam.com\/uae\/\",\"name\":\"UAE\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/uae\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\",\"name\":\"UAE\",\"url\":\"https:\/\/enterpriseam.com\/uae\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/42998.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/42998.svg\",\"caption\":\"UAE\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/uae\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Mubadala invests in Telegram\u2019s USD 1.7 bn convertible bond issuance - UAE","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/uae\/2025\/06\/02\/mubadala-invests-in-telegrams-usd-1-7-bn-convertible-bond-issuance\/","og_locale":"en_US","og_type":"article","og_title":"Mubadala invests in Telegram\u2019s USD 1.7 bn convertible bond issuance","og_description":"The new bonds can be redeemed at 80% of the IPO price if Telegram goes public before the notes mature","og_url":"https:\/\/enterpriseam.com\/uae\/2025\/06\/02\/mubadala-invests-in-telegrams-usd-1-7-bn-convertible-bond-issuance\/","og_site_name":"UAE","article_published_time":"2025-06-02T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2025\/5\/1595.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/uae\/2025\/06\/02\/mubadala-invests-in-telegrams-usd-1-7-bn-convertible-bond-issuance\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/uae\/2025\/06\/02\/mubadala-invests-in-telegrams-usd-1-7-bn-convertible-bond-issuance\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"Mubadala invests in Telegram\u2019s USD 1.7 bn convertible bond issuance","datePublished":"2025-06-02T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/uae\/2025\/06\/02\/mubadala-invests-in-telegrams-usd-1-7-bn-convertible-bond-issuance\/"},"wordCount":272,"publisher":{"@id":"https:\/\/enterpriseam.com\/uae\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/uae\/2025\/06\/02\/mubadala-invests-in-telegrams-usd-1-7-bn-convertible-bond-issuance\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2025\/5\/1595.jpg?fit=%2C&ssl=1","keywords":["BlackRock","debt","DEBT WATCH","EnterpriseAM UAE","Mubadala","Telegram"],"articleSection":["DEBT WATCH"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/uae\/2025\/06\/02\/mubadala-invests-in-telegrams-usd-1-7-bn-convertible-bond-issuance\/","url":"https:\/\/enterpriseam.com\/uae\/2025\/06\/02\/mubadala-invests-in-telegrams-usd-1-7-bn-convertible-bond-issuance\/","name":"Mubadala invests in Telegram\u2019s USD 1.7 bn convertible bond issuance - UAE","isPartOf":{"@id":"https:\/\/enterpriseam.com\/uae\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/uae\/2025\/06\/02\/mubadala-invests-in-telegrams-usd-1-7-bn-convertible-bond-issuance\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/uae\/2025\/06\/02\/mubadala-invests-in-telegrams-usd-1-7-bn-convertible-bond-issuance\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2025\/5\/1595.jpg?fit=%2C&ssl=1","datePublished":"2025-06-02T00:00:00+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/uae\/2025\/06\/02\/mubadala-invests-in-telegrams-usd-1-7-bn-convertible-bond-issuance\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/uae\/2025\/06\/02\/mubadala-invests-in-telegrams-usd-1-7-bn-convertible-bond-issuance\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/uae\/2025\/06\/02\/mubadala-invests-in-telegrams-usd-1-7-bn-convertible-bond-issuance\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2025\/5\/1595.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2025\/5\/1595.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/uae\/2025\/06\/02\/mubadala-invests-in-telegrams-usd-1-7-bn-convertible-bond-issuance\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/uae\/"},{"@type":"ListItem","position":2,"name":"Mubadala invests in Telegram\u2019s USD 1.7 bn convertible bond issuance"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/uae\/#website","url":"https:\/\/enterpriseam.com\/uae\/","name":"UAE","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/uae\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/uae\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/uae\/#organization","name":"UAE","url":"https:\/\/enterpriseam.com\/uae\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/42998.svg","contentUrl":"https:\/\/ent.news\/internal\/42998.svg","caption":"UAE"},"image":{"@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/uae\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2025\/5\/1595.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2025\/5\/1595.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/uae\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2025\/5\/1595.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/posts\/104232","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/comments?post=104232"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/posts\/104232\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/issue\/104225"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/media\/104233"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/media?parent=104232"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/categories?post=104232"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/tags?post=104232"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/brand?post=104232"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=104232"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}