VEON Gets Unanimous Support from Noteholders Voting in Consent Solicitation to Facilitate Indirect Listing of Kyivstar on Nasdaq
30 January 2025 - 10:26PM
Dubai and Amsterdam, 30 January
2025 – VEON Ltd. (Nasdaq: VEON), a global digital operator
(“VEON” or the “Group”), today announces the successful completion
of a bond consent solicitation process (the ”Consent Solicitation”)
undertaken by VEON Holdings B.V. (the "Issuer"), with unanimous
support from voting noteholders to substitute a new VEON subsidiary
for the Issuer and to make certain other amendments to the terms
and conditions of the Issuer’s U.S.$1,013,683,000 3.375 per cent.
Senior Unsecured Notes due 25 November 2027 (ISIN: Reg S:
XS2824764521/ Rule 144A: XS2824766146) (the "Notes").
Completion of the Consent Solicitation is an
important milestone for VEON following the announcement the signing
of a letter of intent (“LOI”) with Cohen Circle to enter into a
business combination aimed at listing Kyivstar on the Nasdaq in the
United States.
Earlier today, a meeting of the holders of the
Notes was held in connection with the Consent Solicitation. With
holders of 95.83% in principal amount of the Notes represented at
the meeting, the extraordinary resolution in connection with the
Consent Solicitation was passed with 100% of the total votes cast
in favor.
"Successful completion of the consent
solicitation is a further sign of investor support for VEON’s
decision to pursue the potential indirect listing of Kyivstar on
the Nasdaq. We are deeply grateful for the unanimous backing of
participating bondholders as we work diligently towards the
successful completion of this process," said Kaan Terzioglu,
VEON Group CEO.
For the full announcement about the results of
the noteholders’ meeting, please visit the VEON website:
https://www.veon.com/investors/credit-investors
Advisors
Jefferies GMBH and ICBC Standard Bank Plc acted
as Structuring and Solicitation Agents in connection with the
Consent Solicitation. Kroll Issuer Services Limited acted as
Tabulation Agent in connection with the Consent Solicitation.
About VEONVEON is a digital operator that
provides converged connectivity and digital services to nearly 160
million customers. Operating across six countries that are
home to more than 7% of the world’s population, VEON is
transforming lives through technology-driven services that empower
individuals and drive economic growth. VEON is listed on
NASDAQ. For more information visit: www.veon.com
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, VEON’s corporate
strategy. 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.
Contact Information
VEON Hande Asik Group Director of
Communication pr@veon.com
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