VEON’s subsidiary VEON Holdings entered into a new RUB 100 billion ($1.45 billion) bilateral term loan agreement with Sberbank. The loan will be used to refinance and extend the maturity of the existing loan between Sberbank and VEON Holdings, as well as to provide additional funds for general corporate purposes.
“This new loan agreement is a further milestone in our continued focus on improving VEON’s capital structure,” Serkan Okandan, CFO of VEON Group, said. “We are pleased with the strong ongoing commitment we have received from Sberbank in relation to this loan, which reinforces the group’s objectives with respect to capital structure and financial flexibility.”
VEON is a NASDAQ and Euronext Amsterdam-listed global provider of connectivity and internet services.
