VEON prices $1.4 billion bond offering in two tranches

VEON Ltd. (NASDAQ: VEON) announced that its subsidiary VEON Midco B.V. has priced a $1.4 billion bond offering of senior unsecured notes in two tranches.

The offering consists of $700 million in 6.95% Senior Notes due June 1, 2031, non-callable for two years and priced at par, and $700 million in 7.45% Senior Notes due June 1, 2033, non-callable for three years and also priced at par. The notes are guaranteed by VEON Amsterdam B.V.

VEON plans to use the net proceeds to refinance existing debt, including funding the purchase of up to $750 million of its outstanding 3.375% Senior Notes due 2027 through a tender offer launched on May 18, 2026.

The notes carry expected credit ratings of BB- from S&P and Fitch and will rank equally with the issuer's existing debt. The company will apply for the notes to be admitted to trading on the Euro MTF market of the Luxembourg Stock Exchange.

The notes will be offered under Rule 144A and Regulation S of the U.S. Securities Act of 1933. VEON operates as a digital operator serving over 150 million connectivity customers across five countries.

The information is based on a company press release statement.

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