AMSTERDAM, Dec. 24, 2020 /PRNewswire/ -- VEON Ltd. (NASDAQ:
VEON) (Euronext Amsterdam: VEON), a leading global provider of
connectivity and internet services, announces that its operating
company in Ukraine, Kyivstar, has
signed three bilateral unsecured loan agreements with Raiffeisen
Bank Aval Joint Stock Company ("Raiffeisen"), Joint Stock Company
Alfa-Bank ("Alfa-Bank") and Joint Stock Company OTP Bank ("OTP"),
for an aggregate amount of UAH 4.1 billion (approximately
USD 145 million[1]). The
loan agreement with Raiffeisen has a 5-year term, and the loan
agreements with Alfa-Bank and OTP have a 3-year term.
Similarly, VEON's subsidiary in Kazakhstan, KaR-Tel, has signed a bilateral
unsecured loan agreement with Forte Bank JSC for KZT 10 billion (approximately USD 25 million[1]), which has a 3-year
term.
Both Kyivstar and KaR-Tel will continue to monitor the local
debt markets for further borrowing opportunities, in line with
VEON's strategy to improve its capital structure via long-term
borrowings in local currencies.
[1] Based on USD/UAH = 28.1 and USD/KZT =
421.2.
About VEON
VEON is a NASDAQ and Euronext Amsterdam-listed global provider
of connectivity and internet services. For more information
visit: www.veon.com.
Disclaimer
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.
INVESTOR RELATIONS
Nik Kershaw
ir@veon.com
Tel: +31-20-79-77-200
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SOURCE VEON Ltd