VEON Announces the Pricing of Its RUB 10 Billion 6.50% Notes Issued Under Its GMTN Programme

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VEON Holdings B.V. (the “Issuer”), a subsidiary of VEON Ltd. (NASDAQ: VEON) (Euronext Amsterdam: VEON), announces the pricing of its RUB 10 billion, approximately USD 133 million1, 6.50% senior unsecured notes due 2025 in 144A / Reg S format (the “Notes”) issued under its Global Medium Term Note Programme established in April 2020 (the “GMTN Programme”), which represents the Issuer’s second Russian Rouble-denominated bond offering under its GMTN Programme and attracted strong interest from a broad range of investors internationally. The settlement date for the offering is expected to be 11 September 2020, subject to customary closing conditions. The Issuer intends to use the net proceeds of the Notes for general corporate purposes.

VEON believes that the offering of the Notes is another step forward in further improving VEON’s capital structure.

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