VEON Closes USD 1.4 Billion Bond Offering, Refinancing 2027 Notes Ahead of Schedule
VEON closed a $1.4 billion dual-tranche senior unsecured notes offering, its largest in over a decade, to refinance debt maturing in 2027 ahead of schedule. The offering consists of $700 million in 6.95% notes due 2031 and $700 million in 7.45% notes due 2033, both rated BB- by Fitch and S&P.
Key figures
- Deal Value Usd
- 1400000000
- Tender price
- USD 987.50 per USD 1,000
- Credit rating
- BB-
- Tranche 1 rate
- 6.95%
- Tranche 2 rate
- 7.45%
- Tendered amount
- 936022000
- Tranche 1 amount
- 700000000
- Tranche 2 amount
- 700000000
- Tranche 1 maturity
- June 1, 2031
- Tranche 2 maturity
- June 1, 2033
- Refinanced debt rate
- 3.375%
- Accepted tender amount
- 886075000
- Refinanced debt amount
- 1013973000
- Average debt maturity proforma
- over four years
AI analysis
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