AMSTERDAM, July 9, 2020 /PRNewswire/ -- VEON Ltd.
(NASDAQ: VEON) (Euronext Amsterdam: VEON) announced today that its
subsidiary VEON Holdings B.V. has successfully refinanced its
existing RUB 30 billion,
approximately USD 422
million1, bilateral term loan agreement with VTB
Bank. This refinancing will extend the maturity and reduce the cost
of the existing loan between VTB Bank and VEON Holdings.
VEON Group Chief Financial Officer Serkan Okandan commented: "This transaction is
another step in our continued focus on improving VEON's capital
structure and enhancing our RUB financings. We are pleased
with the strong support we have received from VTB in relation to
this transaction, which further reinforces the Group's objectives
with respect to capital structure and financial flexibility."
1 Based on USD/RUB=71.1664
VEON is a NASDAQ and Euronext
Amsterdam-listed global provider of connectivity and internet
services. For more information visit: www.veon.com.
This press release contains
"forward-looking statements," as the phrase is defined in Section
27A of the U.S. Securities Act of 1933, as amended, and Section 21E
of the U.S. Securities Exchange Act of 1934, as amended.
Forward-looking statements are not historical facts, and include
statements relating to, among other things, expectations regarding
VEON's financial position and capital structure. Forward-looking
statements are inherently subject to risks and uncertainties, many
of which VEON cannot predict with accuracy and some of which VEON
might not even anticipate. The forward-looking statements contained
in this release speak only as of the date of this release. VEON
does not undertake to publicly update, except as required by U.S.
federal securities laws, any forward-looking statement to reflect
events or circumstances after such date or to reflect the
occurrence of unanticipated events.
SOURCE VEON Ltd