$30 to 40 million for interest on this issue.
Telegram sold $1bn of bonds in March 2021, when rates were 25 bps, with a 7% coupon [1]. Rates are now 5.25%. Their new bonds should thus yield 12%+.
That implies a total annual interest bill over $100 million, with a refinancing in 2026 on $1bn. Not ideal.
[1] https://bondblox.com/news/messaging-app-telegram-sells-bonds...
$30 to 40 million for interest on this issue.
Telegram sold $1bn of bonds in March 2021, when rates were 25 bps, with a 7% coupon [1]. Rates are now 5.25%. Their new bonds should thus yield 12%+.
That implies a total annual interest bill over $100 million, with a refinancing in 2026 on $1bn. Not ideal.
[1] https://bondblox.com/news/messaging-app-telegram-sells-bonds...