EM-focused VEON to issue ruble-denominated three-, five-year notes

By Rebecca Melvin

Concord, N.H., Sept. 7 – VEON Ltd. subsidiary VEON Holdings BV plans to issue ruble-denominated senior notes with terms of three or five years, according to a news release on Tuesday.

The notes will be issued under the company’s April 2020 global medium-term note program, which has been updated and has a limit of $6.5 billion or the equivalent in other currencies. This drawdown with be the company’s fourth under the program.

The proceeds of the Rule 144A and Regulation S notes will be used for general corporate purposes. They will be listed on the Luxembourg Stock Exchange.

Amsterdam-based VEON provides mobile and fixed-line telecommunications services through its subsidiaries in emerging markets.

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