VimpelCom launches $1.5 billion of senior notes in two tranches

By Rebecca Melvin

New York, June 13 – VimpelCom Holdings BV, a subsidiary of VEON Ltd., launched $1.5 billion of new senior notes in two tranches early Tuesday.

The offering includes $600 million of four-year notes that were being talked to yield 3.95% and $900 million of seven-year notes that were being talked at 4.95%, according to a syndicate source.

Final terms were seen being fixed later Tuesday.

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.

Barclays, JPMorgan, ING and HSBC are joint bookrunners for the notes.

VEON, a telecommunications and digital services provider based in Amsterdam, said holders had tendered $1,257,431,000 of three series of notes issued by VimpelCom as of Monday.

VimpelCom is a telecommunications and digital services provider based in Amsterdam. Its predecessor was Moscow-based OJSC VimpelCom.

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