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
05/01/2027
Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...
06/09/2026
June 9 2026, 23:00 (PDT) Dolby and MagentaTV Bring Fans Closer to the FIFA Worl...
04/08/2026
Dalet, a leading technology and service provider for media-rich organizations, t...
04/07/2026
Celebrates company's 80th anniversary
Rhodes have recently revealed that they will be producing a limited run of electric pianos in celebration of their...
04/07/2026
April 7 2026, 19:00 (PDT) Detective Conan: Fallen Angel of the Highway Opens in...
03/07/2026
New bundle & three Single Packs
Continuing to expand their already sizeable orchestral collection, VSL's latest release introduces three new Single Pack...
03/07/2026
Venue installs new ATC-equipped control room
LSO St Luke's, a unique music venue that also serves as the home of the London Symphony Orchestra, have rec...
03/07/2026
1 February 2023
SHARE Facebook Twitter Linkedin Email
Munich, Germany, 1st February 2023: Cinegy GmbH, the premier provider of software technology for digit...
02/07/2026
Stammering, stuttering, strangulated tones
The Crow Hill Company's latest creation promises to be the most original sound set they've produced to d...
02/07/2026
A new era in unmixing and spectral editing
The latest version of Steinberg's spectral audio-editing software has just arrived, building on the strength...
02/07/2026
Aims to simplify additive synthesis
Sine Machine is the debut launch from Melatonin, a Vienna-based developer who have spent the past six years creating wha...
02/07/2026
Products to remain fully active & supported
Following the news of Native Instruments joining the inMusic brand line-up, Academy and Emmy Award-winning visua...
02/07/2026
What you missed!
Last weekend, Saturday 27 June 2026, saw the debut of Sound On Sounds new GearExpo UK event, the largest dedicated pro-audio event to take ...
02/07/2026
Thursday 2 July 2026
Tea with Judi Dench returns to Sky Arts with legendary guest, Sir Ian McKellen
Sky today confirms Tea with Judi Dench will return this su...
01/07/2026
New AI Assistant, Multi-channel Audio, ARA2 improvements & more
Tracktion's DAW software has just received its latest major update, gaining a selection ...
01/07/2026
Stammering, stuttering, strangulated tones
The Crow Hill Company's latest creation promises to be the most original sound set they've produced to d...
01/07/2026
Exclusive run of limited-edition modelling pedals
Sweetwater and Andertons M...
01/07/2026
LEXINGTON, Kentucky - July 2026 -Tyler Childers' seventh and latest studio record, Snipe Hunter, is an adventurously sprawling collection of tunes that span...
01/07/2026
** MEDIA ALERT **
BLEACH Comes to Life in Los Angeles with First-of-Its-Kind...
01/07/2026
UKTV has today announced the appointment of Matt Berry to the newly created role of General Manager - Marketing, effective 1 July.
Matt will take on this senio...
01/07/2026
Sky Zero Footprint Fund-backed TV campaign featuring Deborah Meaden challenges consumers to rethink everyday bathroom wasteWednesday 1 July 2026
Fussy asks Bri...
01/07/2026
Constituency-level analysis reveals where girls miss out most on sport - and where targeted action could unlock more than £640 million in economic and health be...
01/07/2026
Wuppertal July 1, 2026
Riedel and SKAARHOJ Expand Collaboration With SimplyLive IntegrationRiedel Communications today announced an expanded collaboration wit...
01/07/2026
Apple today introduced power-packed updates to Apple Creator Studio, a groundbre...
01/07/2026
Nectar360, the Retail Media, Loyalty and Insights business of the Sainsburys Gro...
01/07/2026
9.2 million streams on RT Player between 11 and 28 June
Reach of 2.9 million viewers during Group stages of FIFA World Cup on RT 2
23 million video views acr...
30/06/2026
Could your journalism reach an international stage?
Entries are now open for the Thomson Foundation's Young Journalist Award 2026, one of the most prestigi...
30/06/2026
Brings together saturation & lo-fi effects
Following on from the release of their Voxcraft vocal-processing plug-in, UJAM have announced the launch of Retro...
30/06/2026
New IR reverb engine, Juno-inspired chorus & more
The latest version of Rapid Flow's hardware-emulation synth plug-in expands on its predecessor with a ...
30/06/2026
Excels at heavy-handed VCA compression
For their latest release, Shy Audio have recreated the crunchy' sound of a rackmount compressor that found its w...
30/06/2026
Component scarcity drives cost increases
Shortly after Apple's CEO Tim Cook acknowledged that cost increases would soon be inevitable , the company hav...
30/06/2026
Hitachi and Bank Pekao S.A. have completed the installation of the first Hitachi...
30/06/2026
eds3_5_jq(document).ready(function($) { $(#eds_sliderM519).chameleonSlider_2_1({ content_source:......
29/06/2026
Four-layer instrument aimed at dark electronic music
Excite Audio's latest software instrument has been designed with dark drum and bass, atmospheric te...
29/06/2026
New AI Assistant, Multi-channel Audio, ARA2 improvements & more
Tracktion's DAW software has just received its latest major update, gaining a selection ...
29/06/2026
Details environmental policies & results
The Focusrite Group have just announced that following a long audit process, they have published their 2026 sustain...
29/06/2026
Arvato Systems Achieves AWS Cloud Operations Competency
The team behind the AWS Cloud Operations Competency (from left to right: Philipp Hellmich, Johanna Bod...
29/06/2026
RT today announced that Ger Gilroy will join the RT Podcasts team to present a daily sports podcast. Launching later this year, the new show will set the spor...
29/06/2026
RT Commercial announced OUTsurance as sponsor of the Oliver Callan show on RT Radio 1 from Wednesday 1 July.
Oliver Callan doubles the fun, delivering two ...
28/06/2026
Half-size model joins Console 1 line-up
Shortly after the release of their new Flow Studio controller, Softube have announced the launch of another new surf...
28/06/2026
New EXO Series DSP control software announced
EVE Audio's EXO Series monitor range has just gained a new software element that provides remote access to...
27/06/2026
Brings together saturation & lo-fi effects
Following on from the release of their Voxcraft vocal-processing plug-in, UJAM have announced the launch of Retro...
26/06/2026
Virtual session musician plug-in gains new percussion options
Celemony's latest update for their virtual session musician platform complements the exist...
26/06/2026
Half-size model joins Console 1 line-up
Shortly after the release of their new Flow Studio controller, Softube have announced the launch of another new surf...
26/06/2026
ELT Group and Rohde & Schwarz sign a cooperation agreement to explore commercial...
26/06/2026
Flicker Productions to produce five-part docu-reality series following women who have fallen for men in prison and have become TikTok sensations, with brands an...
26/06/2026
Catch up on the latest developments across Baselight and Daylight v7, Nara and F...
26/06/2026
26. June 2026 News
DFT is pleased to announce that a second Polar HQ film s...
09 Jun 2023
