VEON subsidiaries in Ukraine and Kazakhstan sign long-term bilateral loan agreements in local currencies for approximately USD 170 million

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AMSTERDAM, December 24, 2020 / PRNewswire / – VEON Ltd. (NASDAQ: VEON) (Euronext Amsterdam: VEON), a leading global provider of connectivity and internet services, announces that its operating company in Ukraine, Kyivstar, signed three bilateral unsecured loan agreements with Raiffeisen Bank Aval Joint Stock Company (“Raiffeisen”), Joint Stock Company Alfa-Bank (“Alfa-Bank”) and Joint Stock Company OTP Bank (“OTP”), for a total amount of 4.1 billion UAH (approximately $ 145 million[1]). The loan agreement with Raiffeisen has a duration of 5 years and the loan agreements with Alfa-Bank and OTP have a duration of 3 years.

Likewise, the VEON subsidiary in Kazakhstan, KaR-Tel, signed an unsecured bilateral loan agreement with Forte Bank JSC for 10 billion KZT (approximately $ 25 million[1]), which has a duration of 3 years.

Kyivstar and KaR-Tel will continue to monitor local debt markets for new borrowing opportunities, in line with VEON’s strategy to improve its capital structure through long-term borrowing in local currencies.

[1] Based on USD / UAH = 28.1 and USD / KZT = 421.2.

About VEON

VEON is a global connectivity and internet service provider listed on NASDAQ and Euronext Amsterdam. For more information, visit: www.veon.com.

Disclaimer

This press release contains “forward-looking statements” as defined in Section 27A of the US Securities Act of 1933, as amended, and Section 21E of the US Securities Exchange Act of 1934, as amended. Forward-looking statements are not historical facts and include statements relating, among other things, to expectations regarding the financial condition and capital structure of VEON. Forward-looking statements are inherently subject to risks and uncertainties, many of which cannot be predicted with precision and some of which may not even be anticipated by VEON. The forward-looking statements contained in this press release speak only as of the date of this press release. VEON does not undertake to update publicly, except as required by US federal securities laws, any forward-looking statements to reflect events or circumstances after this date or to reflect the occurrence of unforeseen events.

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Nik Kershaw
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Phone: + 31-20-79-77-200

SOURCE VEON SA

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