VimpelCom offers senior notes as part of tender offer exchange

By Colin Hanner

Chicago, May 30 – VimpelCom Holdings BV is offering dollar-denominated senior unsecured notes, the company said in a news release.

Proceeds of the new notes (Ba2) will be used to finance the purchase of notes in a tender offer launched on May 30, as well as for general corporate purposes.

VimpelCom is tendering for $499,149,000 of outstanding 9 1/8% loan participation notes due April 30, 2018 issued by VIP Finance Ireland Ltd., $650.57 million of outstanding 7.748% loan participation notes due Feb. 2, 2021 issued by VIP Finance Ireland and $1,280,023,000 of outstanding 7.5043% guaranteed notes due March 1, 2022 issued by VimpelCom Holdings BV.

Barclays, JPMorgan, ING and HSBC are joint bookrunners for the notes offering, a market source said.

VimpelCom, a subsidiary of VEON Ltd., is a telecommunications and digital services provider based in Amsterdam.

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