VEON concludes bank financing of 90 billion RUB (approximately 1.2 billion USD)


AMSTERDAM, December 24, 2021 / PRNewswire / – VEON Ltd. (NASDAQ: VEON) (Euronext Amsterdam: VEON), a leading global provider of connectivity and internet services, announces that VEON Finance Ireland Designated Activity Company., A subsidiary of VEON Ltd. (NASDAQ, Euronext Amsterdam: VEON) successfully completed the bank financing of 90 billion rubles (about $ 1,215 million[1]) guaranteed by VEON Holdings BV.

VEON has entered into two bilateral loan facilities of 45 billion rubles each with Sberbank and Alfa Bank.

  • the 45 billion rubles The Alfa Bank facility has an amortization period of 5 years with a 30 billion rubles fixed rate tranche and a 15 billion rubles variable rate tranche
  • the 45 billion rubles The Sberbank facility has an amortization period of 5 years and is fully floating

The proceeds of the two facilities will be used for general corporate purposes, including the financing of intercompany loans to PJSC VimpelCom.

Serkan Okandan, VEON’s CFO, said: “These new facilities show the continued good progress of our efforts to improve the Group’s capital structure and extend the maturity of our debt portfolio.

[1]Based on USD / RUB = 73.92


This press release contains “forward-looking statements” as defined in Section 27A of the US Securities Act of 1933, as amended, and Section 21E of the US Securities Exchange Act of 1934, as amended. Forward-looking statements are not historical facts and include statements relating, among other things, to expectations regarding the financial condition and capital structure of VEON. Forward-looking statements are inherently subject to risks and uncertainties, many of which cannot be predicted with precision and some of which may not even be anticipated by VEON. The forward-looking statements contained in this press release speak only as of the date of this press release. VEON does not undertake to publicly update, except as required by US federal securities laws, any forward-looking statements to reflect events or circumstances after these dates or to reflect the occurrence of unforeseen events.

About VEON

VEON is a global connectivity and internet service provider listed on NASDAQ and Euronext Amsterdam. For more information, visit:

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Investor Relations
Nik Kershaw
[email protected]
+31 20 79 77 200



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