Noteholder update in relation to Veon Holdings B.V.

BY PR Newswire | CORPORATE | 04/29/24 09:00 AM EDT

U.S.$1,000,000,000 4.00% SENIOR NOTES DUE 9 APRIL 2025
U.S.$1,250,000,000 3.375% SENIOR UNSECURED NOTES DUE 25 NOVEMBER 2027
(TOGETHER, THE "USD NOTES")

RUB20,000,000,000 6.30% SENIOR UNSECURED NOTES DUE 18 JUNE 2025
RUB10,000,000,000 6.50% SENIOR UNSECURED NOTES DUE 11 SEPTEMBER 2025
RUB20,000,000,000 8.125% SENIOR UNSECURED NOTES DUE 16 SEPTEMBER 2026?
(TOGETHER, THE "ROUBLE NOTES")

(THE USD NOTES AND THE ROUBLE NOTES, TOGETHER THE "NOTES")

EACH ISSUED BY?VEON HOLDINGS B.V. (THE "COMPANY")

LONDON, April 29, 2024 /PRNewswire/ -- Cleary Gottlieb Steen & Hamilton LLP has been engaged by certain holders of the Rouble Notes (the "Group").

On 18 April 2024, the Company launched a consent solicitation in relation to the Notes (the "Consent Solicitation").?

The Group is willing, in principle, to support the Consent Solicitation provided that certain amendments are made to its terms including, in particular, providing that the new notes issued in exchange for the Rouble Notes under the Consent Solicitation are denominated in US dollars.

The Group is ready and willing to discuss their proposed amendments to the terms of the Consent Solicitation with the Company.

Holders of the Rouble Notes are invited to contact Solomon J. Noh or Alastair Goldrein at Cleary Gottlieb Steen & Hamilton LLP for organisation purposes.

The contact details for Messrs. Noh and Goldrein appear below:

Solomon J. Noh

?

sjnoh@cgsh.com

Office: +44 (0) 20 7614 2306

Mobile: +44 (0) 78 4132 3679

?

Alastair Goldrein

?

agoldrein@cgsh.com?

Office: +44 (0) 20 7614 2322

Mobile: +44 (0) 77 3417 1953

Cision View original content:https://www.prnewswire.com/news-releases/noteholder-update-in-relation-to-veon-holdings-bv-302130027.html

SOURCE Veon Holdings B.V.

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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