A Telegram spokesman declined to comment on the bond issue or the amount of the debt the company has due. The spokesman said Telegramโs equipment and bandwidth costs are growing because it has consistently posted more than 40% year-to-year growth in users.
The S&P 500 slumped 1.8% on Monday and Tuesday, thanks to China Evergrande, the Chinese property company that looks like it is ready to default on its more-than $300 billion in debt. Cries of the next Lehman Brothersโor maybe the next Silverado?โechoed through the canyons of Wall Street as investors prepared for the worst.
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