09 Jun 2023
Announcement of Currency Exchange Option Amsterdam, 9 June 2023 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides converged connectivity and online services, today provides some further details regarding our ruble denominated notes.
We would like to reiterate the currency election terms for the holders of the following ruble denominated notes:
RUB10,000,000,000 6.50% Senior Unsecured Notes;
RUB20,000,000,000 6.30% Senior Unsecured Notes; and
RUB20,000,000,000 8.125% Senior Unsecured Notes (the Notes )
Each issued under the U.S.$6,500,000,000 Global Medium Term Note Programme (the Programme ) of VEON Holdings B.V. (the Issuer )
RUB10,000,000,000 6.50% due 2025
Regulation S Global Note: 222671639 / Rule 144A Global Note: 222671299
Regulation S Global Note: XS2226716392 / Rule 144A Global Note: XS2226712995
RUB20,000,000,000 6.30% due 2025
Regulation S Global Note: 218490018 / Rule 144A Global Note: 218490026
Regulation S Global Note: XS2184900186 / Rule 144A Global Note: XS2184900269
RUB20,000,000,000 8.125% due 2026
Regulation S Global Note: 234353250 / Rule 144A Global Note: 234353446
Regulation S Global Note: XS2343532508 / Rule 144A Global Note: XS2343534462
Reference is made to the above Notes issued by the Issuer under the Programme pursuant to the trust deeds dated 16 April 2020 (the 2025 Notes Trust Deed ) and 7 September 2021 (the 2026 Notes Trust Deed and together with the 2025 Notes Trust deed, the Trust Deeds ), respectively. Capitalised terms used but not defined herein shall be deemed to be defined as set forth in the base offering memorandum dated 16 April 2020 and the first supplemental offering memorandum dated 8 June 2020, the second supplemental offering memorandum dated 1 September 2020 and the base offering memorandum dated 7 September 2021.
Further reference is made to the announcements by Euroclear and Clearstream dated 3 February 2023 (as updated on 8 February 2023) and 6 February 2023, respectively, that with immediate effect Euroclear and Clearstream are no longer accepting nor processing RUB payments. Under the Conditions (as defined in each of the respective Trust Deeds), this is being treated as Euroclear and Clearstream having made an effective U.S. dollar currency election (as set out below) on behalf of each of the respective Noteholders holding through them, since no other payment is possible.
The Conditions (as defined in each of the respective Trust Deeds) provide the ability for Noteholders (or any of them), through the notification procedures of Euroclear and/or Clearstream, on or before the tenth Business Day prior to an Interest Payment Date or any date for the repayment of principal of the relevant notes, to give an irrevocable election to the Principal Paying Agent to receive such payment in U.S. dollars (the U.S. dollar currency election ). As of today's date, Euroclear and Clearstream are still not accepting nor processing RUB payments, and as such are deemed to have given such notice on behalf of all Noteholders with respect to all Interest Payment Dates until further notice.
In accordance with Condition 13 (Notices) of the respective Trust Deeds, the Principal Paying Agent for each of the respective Notes shall upon request provide to the Noteholders the Exchange Amount and the U.S. Dollar Amount applicable to the respective Interest Payment Dates.
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 include statements relating to, among other things, expectations regarding the U.S. dollar currency election. 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 and except as set forth above, any forward-looking statement to reflect events or circumstances after such date or to reflect the occurrence of unanticipated events.
Whilst the Trustee for the Notes approves the circulation of this notice to Noteholders for the purposes of clause 14.1(e) of each of the respective Trust Deeds, the Trustee does not express or give any opinion as to the effectiveness, validity, or binding nature of any of the Issuer's statements as set out in this notice, or the election notices purported to be served by Euroclear and Clearstream on behalf of Noteholders in respect of the U.S. dollar currency election for the purposes of the respective Conditions and Issuers payment obligations in respect of the Notes.
About VEON
VEON is a global digital operator that currently provides converged connectivity and online services to over 160 million customers in six dynamic markets. We are transforming people's lives, empowering individuals, creating opportunities for greater digital inclusion and driving economic growth across countries that are home to more than 7% of the world's population. Headquartered in Amsterdam, VEON is listed on NASDAQ and Euronext Amsterdam. For more information visit: www.veon.com.
Contact Information
VEON
Investor Relations
Nik Kershaw
ir@veon.com
This website stores cookies on your computer. These cookies are used to improve vour website experience and provide more personalized services to you, both on this website and through other media. To find out more about the cookies we use, see our Privacy Policy
We wont track your information when you visit our site. But in order to comply with your prefer
Europe Stories
06/10/2025
France T l visions, France's leading broadcaster, has received the 2025 EBU ...
04/09/2025
Monumental Sports & Entertainment (MSE), in collaboration with Dalet, has been a...
07/08/2025
July 8 2025, 22:30 (PDT) Tata Motors & Dolby Bring Dolby Atmos to Harrier.ev, R...
16/07/2025
Spotify's podcast editorial team is always on the hunt for shows and episodes that spark conversation, push boundaries, and keep us coming back for more. As...
16/07/2025
eds3_5_jq(document).ready(function($) { $(#eds_sliderM519).chameleonSlider_2_1({...
16/07/2025
Join us at IBC this September and take control of your content. Discover how we're bringing a new level of purpose and precision to the application of AI in...
16/07/2025
Wednesday 16 July 2025
Sky and ITV today announced an extension of their long-standing partnership, which will see ITV's content and services remain seamle...
16/07/2025
Sky Sports lifts the lid on Lions life with hilarious behind-the-scenes mockumentaryWednesday 16 July 2025
To view this content, please enable our use of cooki...
16/07/2025
CULVER CITY, CALIFORNIA Apple TV+ today earned a record-breaking 81 Emmy Award nominations across 14 hit Apple Original titles for this year's 77th Emmy Awa...
15/07/2025
Independent media outlets in Brazil and Colombia are invited to apply for a new programme aimed at strengthening the long-term resilience of journalism in the f...
15/07/2025
Spotify une fuerzas con DiDi, la app l der en servicios de movilidad, delivery y...
15/07/2025
NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNIT...
15/07/2025
U&GOLD has acquired the broadcast rights for Fawlty Towers: The Play (1x120'). Recorded during the show's run at the West End with its original cast, Fa...
15/07/2025
TV SIM builds for the future with high efficiency transmitter from Rohde & Schwa...
15/07/2025
Harmonic's Hybrid, AI-Powered and Live Sports Streaming Innovations are Key ...
15/07/2025
The well-known and well-loved 4099 has been completely revamped. It features amazing CORE+ technology, which eliminates distortion and extends dynamic range, a ...
15/07/2025
Comscore Partners with HyphaMetrics to Launch Advanced Person-Level Audience Mea...
15/07/2025
Peak audiences of over half a million tune into both Kerry v Tyrone and Donegal ...
15/07/2025
PROTON Announces Production Facility Expansion Ahead of IBC2025 posted: 15/07/2025
Proton Announces Production Facility Expansion Ahead of IBC2025
Alongs...
14/07/2025
Enhancing Public Service Broadcasting with
Innovation, Accuracy & Sustainability
New regional detail and local towns featured...
11/07/2025
If you've ever wondered what might be playing in Clark Kent's headphones...
11/07/2025
AI and Multimedia Authenticity Standards Collaboration launches two papers to guide the future of AI integration, today at the AI for Good Global Summit
The...
10/07/2025
The current holder of the prestigious Thomson Foundation Young Journalist of the Year Award has been forced to stop reporting over fears for her safety in Afgha...
10/07/2025
Spotify is turning up the volume on Australian music with a multipronged initiative designed to highlight the dominance of Australian artists on the global stag...
10/07/2025
This is not a drill: Oasis is back on the road-marking its first live performanc...
10/07/2025
The music industry depends on fresh ideas, bold voices, and emerging talent. Yet across the U.K., too many young musicians lack the space to develop their craft...
10/07/2025
10 Jul 2025
VEON and Cohen Circle Secure Investor Commitments for Kyivstar Listing Kyiv, New York, Dubai, and Philadelphia - July 10, 2025 - VEON Ltd. (Nasdaq:...
10/07/2025
Thursday 10 July 2025
The Very Small Creatures
Jaime's Treetop Tales
Emerald
BooSnoo! Christmas Mashup
Pip & Posy's Spooktacular Party
The Very Sm...
10/07/2025
Thursday 10 July 2025
Brand new rewards are coming to Sky customers, with free ...
10/07/2025
Comscore Achieves Full JIC Certification for National TV Measurement Including...
09/07/2025
Wednesday 9 July 2025
Sky Broadband now has the UK's fastest broadband spee...
09/07/2025
CUPERTINO, CALIFORNIA Apple today announced Jeff Williams will transition his role as chief operating officer later this month to Sabih Khan, Apple's senior...
08/07/2025
In an era where digital threats to journalists are becoming increasingly aggressive and widespread, MediaSafe Africa launches as a vital online resource to help...
08/07/2025
This summer, as the energy builds for one of the biggest moments in women's ...
08/07/2025
UKTV today announces that Richard Watsham, Chief Creative Officer at UKTV and Global Director of Acquisitions for BBC Studios/UKTV, has decided to step down fro...
08/07/2025
SAN JOSE, Calif. - July 8, 2025 - Harmonic (NASDAQ: HLIT) today announced a reco...
08/07/2025
Arvato Systems Optimizes Customer Communication with AOK Niedersachsen
New project in the statutory health insurance sector
Arvato Systems and AOK Niedersach...
08/07/2025
On August 7, Apple Arcade is adding four exclusive games to its diverse catalogue of more than 200 fun games for players to enjoy, all free from ads and in-app ...
07/07/2025
** MEDIA ALERT **
VIZ Media Ignites AX 2025 with Star-Studded Panels, Exclus...
07/07/2025
CULVER CITY, CALIFORNIA As Apple Music marks its 10th anniversary this year, Apple unveils its most ambitious creative project to date: a brand-new state-of-the...
07/07/2025
RT has announced that Mark Bignell has been appointed Commissioning Editor for Comedy following a public competition. This senior editorial position will drive...
04/07/2025
The Summer Reading Challenge has inspired children across the U.K. to embrace a ...
04/07/2025
Friday 4 July 2025
Watch the trailer here https://youtu.be/Od5WpvWmDr8
Further...
04/07/2025
The Pitch comes to RT Radio 1 airwaves this Sunday at 7pm. The Pitch is a brand...
03/07/2025
For our Vario-Jib, as well as for a repertoire of weights, we now have carts that make transport easier...
03/07/2025
One of our latest innovations: Slider Drive Unit!
Our Vario Slider not only comes with improvements and new features, but also with its own drive unit!
Our i...
09 Jun 2023
