VEON Ltd (NASDAQ: VEON) has provided further details regarding its ruble-denominated notes. The company also informed investors that as revealed on 2 March 2022, VEON has no additional debt maturities at the HQ level during 2022. VEON has earned recognition as a provider of connectivity and digital services to around 220 million customers across nine countries.
The company confirmed that it would like to reiterate the currency election terms for the holders of the ruble-denominated notes which includes VEON Holdings B.V., RUB 20 billion (USD 194 million1) 6.30%ruble-denominated notes, maturing June 2025, VEON RUB 10 billion (USD 97 million1) 6.50%ruble-denominated notes maturing September 2025.
It also includes VEON Holdings B.V., RUB 20 billion (USD 194 million1) 8.125%ruble-denominated notes maturing September 2026. Each of these is issued under VEON Holdings B.V.'s Global Medium Term Note Programme.
Furthermore, each final terms agreement for the Notes includes a currency exchange option. The details of these are detailed in condition 6(f) of the Notes' terms and conditions in each base offering memorandum. As a result of this currency exchange option, holders of the Notes may give an irreversible notice of election to Citibank, N.A., London Branch as principal paying agent on or before the tenth business day before interest or principal payment date, using the Euroclear and/or Clearstream notification procedures.