Telegram hopes to raise $1bn with a convertible bond private placement
The super secure UAE-based Telegram messenger service, developed by Russian-born software icon Pavel Durov, is looking to raise $1bn through a bond placement to a limited number of investors from Russia, Europe, Asia and the Middle East, the Kommersant daily reported citing unnamed sources on February 18, 2021.The issue reportedly comprises exchange bonds that could be converted into equity in the messaging service that is currently 100% owned by Durov and his brother Nikolai.Kommersant reports that the price of the conversion would be at a 10% discount to a potential IPO should it happen within five years.The minimum bond placement is said to be set at $50mn, but could be lowered to $10mn. Five-year bonds could carry an annual coupon of 7-8%.
Should You Buy Bitcoin?
In general, many financial experts support their clientsβ desire to buy cryptocurrency, but they donβt recommend it unless clients express interest. βThe biggest concern for us is if someone wants to invest in crypto and the investment they choose doesnβt do well, and then all of a sudden they canβt send their kids to college,β says Ian Harvey, a certified financial planner (CFP) in New York City. βThen it wasnβt worth the risk.β The speculative nature of cryptocurrency leads some planners to recommend it for clientsβ βsideβ investments. βSome call it a Vegas account,β says Scott Hammel, a CFP in Dallas. βLetβs keep this away from our real long-term perspective, make sure it doesnβt become too large a portion of your portfolio.β In a very real sense, Bitcoin is like a single stock, and advisors wouldnβt recommend putting a sizable part of your portfolio into any one company. At most, planners suggest putting no more than 1% to 10% into Bitcoin if youβre passionate about it. βIf it was one stock, you would never allocate any significant portion of your portfolio to it,β Hammel says.
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