VEON Secures Unanimous Bondholder Approval for Kyivstar Listing

Author: Kelly Martin Updated: 01-30-2025 06:31 AM

VEON Achieves Milestone in Consent Solicitation

VEON Ltd. (NASDAQ: VEON), a global digital operator, has recently celebrated a significant milestone in its journey toward enhancing its corporate structure. The company successfully completed a bond consent solicitation process orchestrated by VEON Holdings B.V. The proposal received overwhelming approval from the voting noteholders, marking a crucial step forward for the organization.

Support from Bondholders

At the heart of this progress is the unanimous consent from noteholders regarding the substitution of a new VEON subsidiary for the Issuer. The bond consent solicitation involved VEON’s Senior Unsecured Notes totaling U.S.$1,013,683,000, which are due by late 2027. During a recent meeting, 95.83% of the principal amount of the Notes was represented, and to the delight of the company, the extraordinary resolution was passed with 100% of the votes cast in favor.

Strategic Business Combination for Nasdaq Listing

One of the driving forces behind this bondholder support is VEON's strategic decision to facilitate the indirect listing of Kyivstar on the Nasdaq in the United States. Following an agreement with Cohen Circle, these steps are seen as crucial for positioning the company for future growth and expansion in the digital space. CEO Kaan Terzioglu expressed gratitude for the bondholders' backing and acknowledged that this support further solidifies investor confidence in VEON's strategic decisions.

Moving Forward with Confidence

As VEON moves forward with its plans, the company continues to remain focused on executing its business strategy effectively. The action represents not only a commitment to its existing investors but also enhances its image as a forward-thinking player within the digital telecommunications industry.

Insights on VEON's Business Operations

VEON currently serves nearly 160 million customers across six countries, catering to over 7% of the global population. Through innovative technology-driven services, the company is positively impacting individual lives and contributing to economic growth. VEON's ambition to list Kyivstar on Nasdaq is a part of this larger vision, aiming to elevate its service offerings and customer reach.

Overview of Advisor Roles

In facilitating this consent solicitation, Jefferies GMBH and ICBC Standard Bank Plc acted as Structuring and Solicitation Agents, while Kroll Issuer Services Limited served as the Tabulation Agent. These partnerships are essential in ensuring that all processes comply with necessary guidelines and serve the interests of the noteholders.

Frequently Asked Questions

What was the outcome of VEON's bond consent solicitation?

VEON secured unanimous support from voting noteholders, enabling important amendments to their bond terms.

What significant step is VEON taking regarding Kyivstar?

VEON is working to facilitate the indirect listing of Kyivstar on the Nasdaq, signifying a strategic growth initiative.

How many customers does VEON currently serve?

VEON serves nearly 160 million customers across multiple countries, significantly impacting the digital sector.

Who advised VEON during the consent solicitation?

Jefferies GMBH and ICBC Standard Bank Plc acted as Structuring and Solicitation Agents for the process.

What are VEON's future aspirations following this milestone?

VEON aims to enhance its business operations and investor confidence through strategic actions such as the potential listing of Kyivstar.

About The Author

Hello Kelly Martin here, a financial and publicly traded company specialist committed to writing with clarity and sage advice. Having a wealth of experience and a thorough grasp of corporate dynamics and the financial environment, my main goal in writing blog posts and articles is to provide insightful analysis together with useful guidance. My objective is to arm readers with the information they need to comprehend the complexities of publicly traded companies and make wise financial decisions.

Writing for several financial blogs has let me interact with a wide range of readers, from novice investors to seasoned pros looking for fresh perspectives. My goal is to make corporate analysis and finance understandable and interesting so you may confidently negotiate the intricacies of the financial world. I appreciate you traveling with me toward success and financial literacy.

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