{"id":454404,"date":"2021-03-10T01:03:29","date_gmt":"2021-03-10T06:03:29","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=454404"},"modified":"2021-03-10T01:03:29","modified_gmt":"2021-03-10T06:03:29","slug":"veon-successfully-enters-into-a-usd-1-25-billion-multi-currency-revolving-credit-facility-agreement","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/veon-successfully-enters-into-a-usd-1-25-billion-multi-currency-revolving-credit-facility-agreement\/","title":{"rendered":"VEON successfully enters into a USD 1.25 billion multi-currency revolving credit facility agreement"},"content":{"rendered":"
\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n AMSTERDAM<\/span>, March 10, 2021<\/span> \/PRNewswire\/ — VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a leading global provider of connectivity and internet services, announces that it has successfully entered into a new multi-currency revolving credit facility agreement (the “RCF”) of USD 1.25 billion<\/span> for VEON Holdings B.V. (“VEON Holdings”). The RCF will replace the existing revolving credit facility signed in 2017. The RCF has an initial tenor of three years, with VEON Holdings having the right to request two one-year extensions, subject to lender consent. International banks from Asia<\/span>, Europe<\/span> and the US have committed to the RCF. VEON\u00a0 Holdings will have the option to make each drawdown in either U.S. dollars or euro.\u00a0<\/p>\n

\n Serkan Okandan<\/span>, VEON’s CFO, said: “The progress we have made in improving our capital structure since 2017 and over the last 12 months, where we have seen our average cost of funding decrease by 150bp reducing our annual interest expenses by around USD 100 million<\/span> and the average tenor extended by 13 months to 3.5 years, has allowed us to reduce the size as well as improve the pricing when compared to our previous RCF facility. This new RCF supports the Group’s liquidity profile and is expected to provide the Group with greater financial flexibility”.<\/p>\n

\n Disclaimer
<\/b>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 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 dates or to reflect the occurrence of unanticipated events.<\/p>\n

\n About VEON
<\/b>VEON is a NASDAQ and Euronext Amsterdam-listed global provider of connectivity and internet services.\u00a0 For more information visit:\u00a0www.veon.com<\/a>.<\/p>\n

\n Contact Information
<\/b>VEON
Investor Relations
Nik Kershaw<\/span>
ir@veon.com<\/a>\u00a0<\/b><\/p>\n

\n \"Cision\" View original content:http:\/\/www.prnewswire.com\/news-releases\/veon-successfully-enters-into-a-usd-1-25-billion-multi-currency-revolving-credit-facility-agreement-301244012.html<\/a><\/p>\n

SOURCE VEON Ltd<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

PR Newswire AMSTERDAM, March 10, 2021 \/PRNewswire\/ — VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a leading global provider of connectivity and internet services, announces that it has successfully entered into a new multi-currency revolving credit facility agreement (the “RCF”) of USD 1.25 billion for VEON Holdings B.V. (“VEON Holdings”). The RCF will replace the existing revolving credit facility signed in 2017. The RCF has an initial tenor of three years, with VEON Holdings having the right to request two one-year extensions, subject to lender consent. International banks from Asia, Europe and the US have committed to the RCF. VEON\u00a0 Holdings will have the option to make each drawdown in either U.S. dollars or euro.\u00a0 Serkan Okandan, VEON’s CFO, said: … <\/p>\n

Continue reading “VEON successfully enters into a USD 1.25 billion multi-currency revolving credit facility agreement”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-454404","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nVEON successfully enters into a USD 1.25 billion multi-currency revolving credit facility agreement - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/veon-successfully-enters-into-a-usd-1-25-billion-multi-currency-revolving-credit-facility-agreement\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"VEON successfully enters into a USD 1.25 billion multi-currency revolving credit facility agreement - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire AMSTERDAM, March 10, 2021 \/PRNewswire\/ — VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a leading global provider of connectivity and internet services, announces that it has successfully entered into a new multi-currency revolving credit facility agreement (the “RCF”) of USD 1.25 billion for VEON Holdings B.V. (“VEON Holdings”). The RCF will replace the existing revolving credit facility signed in 2017. The RCF has an initial tenor of three years, with VEON Holdings having the right to request two one-year extensions, subject to lender consent. International banks from Asia, Europe and the US have committed to the RCF. VEON\u00a0 Holdings will have the option to make each drawdown in either U.S. dollars or euro.\u00a0 Serkan Okandan, VEON’s CFO, said: … Continue reading "VEON successfully enters into a USD 1.25 billion multi-currency revolving credit facility agreement"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/veon-successfully-enters-into-a-usd-1-25-billion-multi-currency-revolving-credit-facility-agreement\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-10T06:03:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=LN04482&sd=2021-03-10\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/veon-successfully-enters-into-a-usd-1-25-billion-multi-currency-revolving-credit-facility-agreement\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/veon-successfully-enters-into-a-usd-1-25-billion-multi-currency-revolving-credit-facility-agreement\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"VEON successfully enters into a USD 1.25 billion multi-currency revolving credit facility agreement\",\"datePublished\":\"2021-03-10T06:03:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/veon-successfully-enters-into-a-usd-1-25-billion-multi-currency-revolving-credit-facility-agreement\\\/\"},\"wordCount\":398,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/veon-successfully-enters-into-a-usd-1-25-billion-multi-currency-revolving-credit-facility-agreement\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/c212.net\\\/c\\\/img\\\/favicon.png?sn=LN04482&sd=2021-03-10\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/veon-successfully-enters-into-a-usd-1-25-billion-multi-currency-revolving-credit-facility-agreement\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/veon-successfully-enters-into-a-usd-1-25-billion-multi-currency-revolving-credit-facility-agreement\\\/\",\"name\":\"VEON successfully enters into a USD 1.25 billion multi-currency revolving credit facility agreement - 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