Amsterdam, 17 December 2020 - VEON Holdings B.V., a subsidiary of VEON Ltd. (NASDAQ, Euronext Amsterdam: VEON), announces that it has completed optional early redemption of all of its outstanding USD 600 million 3.95% Senior Notes due June 2021 (the “2021 Notes”) pursuant to Condition 5.3 of the 2021 Notes. The 2021 Notes were redeemed in full at a redemption price equal to 101.00% of the principal amount thereof, plus accrued and unpaid interest and additional amounts due thereon, to, but excluding, 17 December 2020 (the “Redemption Date”). The 2021 Notes on the Euro MTF market of the Luxembourg Stock Exchange have also been cancelled with effect on and from the Redemption Date. 

VEON believes that the redemption of the 2021 Notes and the resulting extension of the average maturity profile of its debt portfolio is another step forward in further improving VEON’s capital structure.

Disclaimer

This press release contains “forward-looking statements”, as the phrase is defined in Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Forward-looking statements are not historical facts, and include statements relating to, among other things, expectations regarding VEON’s financial position and capital structure. Forward-looking statements are inherently subject to risks and uncertainties, many of which VEON cannot predict with accuracy and some of which VEON might not even anticipate. The forward-looking statements contained in this release speak only as of the date of this release. VEON does not undertake to publicly update, except as required by U.S. federal securities laws, any forward-looking statement to reflect events or circumstances after such date or to reflect the occurrence of unanticipated events.

About VEON

VEON is a NASDAQ and Euronext Amsterdam-listed global provider of connectivity and internet services.  For more information visit: www.veon.com.

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