VEON Receives Licence from U.S. Treasury’s OFAC, Amends 2025 and 2027 Notes
July 09 2024 - 11:00AM
UK Regulatory
VEON Receives Licence from U.S. Treasury’s OFAC, Amends 2025 and
2027 Notes
Amsterdam, 9 July 2024:
VEON Ltd. (Nasdaq: VEON and Euronext Amsterdam: VEON), 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 licence 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 cancelled. 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. 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. Our investors can contact VEON
Investor Relations at ir@veon.com for any further questions.
About VEON
VEON is a digital operator that provides converged connectivity and
digital services to nearly 160 million customers. Operating
across six countries that are home to more than 7% of the world’s
population, VEON is transforming lives through technology-driven
services that empower individuals and drive economic growth.
Headquartered in Amsterdam, VEON is listed on Nasdaq and
Euronext. For more information
visit: https://www.veon.com.
Disclaimer
This 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 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 dates or to reflect the
occurrence of unanticipated events.
Contact Information:
Hande Asik
Group Director of Communication
pr@veon.com
Faisal Ghori
Group Director of Investor Relations
ir@veon.com
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