VEON enters $1.25 billion multi-currency revolver

By Taylor Fox

New York, March 10 – VEON Ltd. entered into a new multi-currency revolving credit facility agreement of $1.25 billion for VEON Holdings BV, according to a news release.

The facility has an initial tenor of three years, and VEON Holdings has the right to request two one-year extensions, subject to lender consent.

The facility will replace the existing revolving credit facility signed in 2017.

International banks from Asia, Europe and the United States have committed to the facility.

VEON Holdings will have the option to make each drawdown in either dollars or euros.

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

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