Starting March 26, the St. Petersburg Exchange opened trading in Telegram’s convertible bonds for qualified investors. сообщает Kommersant, citing the exchange.
Trading began at 10:00 a.m. Moscow time. The yield to maturity will be around 6.3%.
Trades are conducted in US dollars with T+2 settlement [simple_tooltip content=’все расчеты проходят на второй рабочий (торговый) день’]Т+2[/simple_tooltip]. The par value of one security is $1,000.
Access is provided through the clearing and settlement infrastructure of MOEX’s subsidiary non-bank credit organization, the Clearing Center MOEX.
Earlier in March, Telegram attracted over $1 billion from the sale of convertible bonds. Pavel Durov confirmed this information.
The largest investors in Telegram were funds from the United Arab Emirates — Mubadala Investment Company and Abu Dhabi Catalyst Partners. In total they bought bonds worth $150 million.
The Russian Direct Investment Fund (RDIF) acquired a minority stake in Mubadala Investment Company’s investment totaling about $2 million.
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