VEON Ltd., a global digital operator that provides converged connectivity and online services (“VEON” or the “Company”), is pleased to announce that, following the consent of its respective bondholders and the receipt of a license from U.S. Treasury’s Office of Foreign Assets Control (OFAC), it has now amended the original VEON Holdings B.V. notes due April 2025, June 2025 and November 2027 (collectively, the “Original Notes”).
VEON Holdings will no longer be required to make principal or interest (including any accrued interest) payments under the Original Notes. As such, the Original Notes are effectively economically canceled. In May and June 2024, VEON Holdings B.V. issued new April 2025, June 2025 and November 2027 notes to eligible investors who participated in the consent solicitation or the subsequent exchange.
Consent solicitation process
VEON Holdings also executed the early redemption of its September 2025 and September 2026 notes in full on 18 June 2024. With these amendments, VEON now successfully concludes the consent solicitation process launched in April 2024. VEON also settled the residual deferred consideration related to the disposal of PJSC Vimpelcom.
“VEON is committed to creating and protecting value for its investors. We thank our bondholders, as well as the regulators, most notably those in the United States where VEON is listed, for their trust and continuous support,” said Kaan Terzioglu, VEON Group CEO. VEON shares continue to trade unrestricted on Nasdaq and Euronext-Amsterdam.