Toncoin (TON) Surges 13% as Telegram Secures $1.5B Bond Backing from BlackRock, Citadel, and Mubadala

Telegram is raising $1.5 billion through a bond sale, with institutional heavyweights BlackRock, Citadel, and Mubadala leading the charge. The five-year bonds yield 9% annually, with proceeds allocated to refinancing a 2021 loan. A convertible clause enables bondholders to swap debt for equity at a discount if Telegram goes public.

The messaging giant’s financials have rebounded sharply, reporting $1.4 billion revenue and $540 million profit for 2024—a dramatic recovery from 2023’s $173 million loss. Monetization via ads, digital gifts, and developer tools fueled growth. Platform metrics show robust adoption, surpassing 1 billion monthly active users and 15 million premium subscribers.

Toncoin (TON), Telegram’s native cryptocurrency, jumped 13% post-announcement, reflecting market enthusiasm for the company’s institutional support and financial turnaround.