Amsterdam, 14 June 2017 - VimpelCom Holdings B.V. (the “Issuer”), a subsidiary of VEON Ltd. (“VEON”), announces the pricing of its US$600,000,000 3.95% Senior Notes due 2021 and US$900,000,000 4.95% Senior Notes due 2024 (collectively, the “Notes”), which will be issued subject to market and other customary conditions (the “Offering”). The Issuer intends to use the net proceeds of the Offering (i) to finance the purchase of the: (x) US$1,000,000,000 9.125% Loan Participation Notes due 2018, (y) US$1,000,000,000 7.748% Notes due 2021, in each case issued by VIP Finance Ireland Limited and (z) US$1,500,000,000 7.5043% Notes due 2022, issued by the Issuer (together, the “Existing Notes”), tendered and accepted for purchase in accordance with the terms and conditions of a tender offer launched by the Issuer on 30 May 2017 pursuant to an offer to purchase of the same date and (ii) for general corporate purposes. The completion of the Offering is a condition to the purchase of the Existing Notes in the tender offer, and the settlement date for the Offering is expected to be 16 June 2017.
Read more