Credit Investors

VEON Holdings B.V. Announced Consent Solicitations In Respect Of Certain Notes

On 18 April 2024, VEON Holdings B.V. announced invitations to eligible noteholders to consent to certain proposals in respect of its notes as defined in the announcement.

Debt per entity and per type1

30 June 2024

Entity
Bonds
Loans
Overdrafts and Vendor Financing
Total

VEON Holdings B.V.2

1,684

-

-

1,684

Pakistan Mobile Communications Ltd.

54

712

3

769

Banglalink Digital Communications Ltd.

-

179

4

183

Unitel LLC.

16

68

84

KaR-Tel LLP.

-

32

-

32

Others

7

15

-

22

Total

1,745

954

75

2,774

1Excluding lease liabilities and excluding long term accounts payables.

2As of 30 June 2024, the outstanding amount of VEON Holdings B.V. bonds includes an equivalent of USD 134 million of legacy bonds for which no further payments are due and that are subject to a potential exchange into new notes if eligible investors come forward.

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VEON Holdings B.V. bond summary

30 June 2024

Issuer

Bonds

ISIN

Date of Issuance

Maturity date

Amount outstanding

Coupon

Coupon frequency

Bond rating

VEON Holdings B.V.

Notes due 2025

XS2824765767(144A) XS2824765098(REGS)

29. May 24

April 9, 2025

USD 465,331,000

4.0000%

Semi annual

BB-

VEON Holdings B.V.

Notes due 2025

XS2834472198(144A) XS2834471976(REGS)

29. May 24

June 18, 2025

RUB 7,228,400,000

6.3000%

Semi annual

BB-

VEON Holdings B.V.

Notes due 2027

XS2824766146(144A) XS2824764521(REGS)

29. May 24

November 25, 2027

USD 1,001,249,000

3.3750%

Semi annual

BB-

Download the Bond Summaries information

VEON consolidated debt overview1

30 June 2024

Entity

Type of debt/ original lenders

Interest rate

Debt currency

Outstanding debt (mln)

Outstanding debt (USD mln)

Maturity date

Guarantor

Security

VEON Holdings B.V.

Notes

4.000%

USD

465

465

09.04.2025

None

None

VEON Holdings B.V.

Notes

6.300%

RUB

7,228

84

18.06.2025

None

None

VEON Holdings B.V.

Notes

3.375%

USD

1,001

1,001

25.11.2027

None

None

legacy notes, subject to potential conversion in new notes, but for which no further payments are due

VEON Holdings B.V.

Legacy notes, no payments due, subject to potential conversion

4.000%

USD

31

31

09.04.2025

VEON Holdings B.V.

Legacy notes, no payments due, subject to potential conversion

6.300%

RUB

1,811

21

18.06.2025

VEON Holdings B.V.

Legacy notes, no payments due, subject to potential conversion

3.375%

USD

81

81

25.11.2027

TOTAL VEON Holdings B.V.

1,684

PMCL

Syndicated Loan Facility

6M KIBOR + 0.55%

PKR

21,155

76

02.09.2026

None

Certain assets of the borrower

PMCL

Loan from Habib Bank Limited

6M KIBOR + 0.55%

PKR

8,981

32

02.09.2026

None

Certain assets of the borrower

PMCL

Syndicated Loan Facility

6M KIBOR + 0.55%

PKR

15,000

54

18.05.2028

None

Certain assets of the borrower

PMCL

Syndicated Loan Facility

3M KIBOR + 0.60%

PKR

50,000

180

05.07.2031

None

Certain assets of the borrower

PMCL

Syndicated Loan Facility

6M KIBOR + 0.60%

PKR

40,000

144

19.04.2032

None

Certain assets of the borrower

PMCL

Syndicated Loan Facility

6M KIBOR + 0.60%

PKR

43,000

154

24.05.2034

None

Certain assets of the borrower

PMCL

Notes

3M KIBOR + 0.25%

PKR

15,000

54

24.10.2024

None

None

PMCL

Other

75

TOTAL Pakistan Mobile Communications Limited

769

Banglalink

Syndicated Loan Facility

Average bank deposit rate + 4.25%

BDT

7,590

65

26.04.2027

None

None

Banglalink

Syndicated Loan Facility

7.00% to 12.00%

BDT

7,580

65

25.11.2028

None

None

Bangalink

53

TOTAL Banglalink Digital Communications Ltd.

183

Unitel

National Bank for Foreign Economic Activity

20.00% - 22.00%

UZS

200,000

16

06.11.2026

None

None

Unitel

Huawei

4.500%

EUR

62

66

2024 - 2026

None

None

Unitel LLC

Other

2

TOTAL Unitel LLC.

84

KaR-Tel

Loan from Forte Bank

17.25% - 18.50%

KZT

15,000

32

13.11.2026

None

None

TOTAL KaR-Tel Limited Liability Partnership.

32

Other entities

Overdrawn accounts and other

22

Total VEON consolidated

2,774

1Excluding lease liabilities and excluding long term accounts payables.

Download the Debt Overview information