Sidley Advises the Joint Global Coordinators, Dealer Managers and Joint Bookrunners on VEON’s US$1.4 Billion Bond Offering and Concurrent Tender Offer

Sidley advised the Joint Global Coordinators and Joint Bookrunners (Barclays Bank and Citigroup) and Joint Lead Managers and Joint Bookrunners (ICBC Standard Bank and Jefferies) on the successful issuance by VEON of a US$1.4 billion dual-tranche senior unsecured notes offering.

The bond offering, VEON’s largest in over a decade, refinances substantially all of VEON’s debt maturing in 2027 ahead of schedule and attracted strong interest from a diverse global investor base.

Sidley advised on the issuance of the dual-tranche notes structured as a Regulation S/Rule 144A offering and on the concurrent tender offer relating to VEON’s outstanding bonds maturing in 2027.

VEON is a Nasdaq-listed digital operator that provides connectivity and digital services to over 150 million connectivity customers and more than 228 million digital users.

The Capital Markets team was led by partners David Stewart, Vladimir Mikhailovsky and Patrick Kwak, with support from managing associate Alex Harvey, associates Anastasia Sheyndlina and Jong-Ihn Chung, and trainee solicitor Sepanta Tabatabaei.