U.S. law firm Skadden, Arps, Slate, Meagher & Flom has advised Telegram, a UAE-based messaging app, in its recent $1.7 billion bond issuance. Out of the raised amount, Telegram plans to utilize $950 million to refinance existing bonds. The remaining $750 million will offer new investors additional liquidity, with the bonds being convertible into shares upon an IPO and post-IPO.
Historically, Telegram has engaged U.K. firm Slaughter and May to assist in its first major private fundraising in 2021, successfully raising over $1 billion. For more details on the recent bond issuance and Skadden’s involvement, visit the original article.