DLA Piper advises on VEON's USD210 million term loan syndication

Global law firm DLA Piper has advised its long-standing client, VEON Ltd (NASDAQ: VEON) on the successful syndication of a 24-month USD210 million senior unsecured term loan under a new facility agreement from a consortium of international lenders including ICBC Standard Bank and leading GCC banks.

Headquartered in Dubai and listed on NASDAQ, VEON provides vital connectivity and access to digital services for millions of customers across its markets. The company operates in six countries and has over 160 million customers.

The facility will be used to strengthen VEON's liquidity position but also to reinforce VEON's commitment to executing on its digital operator strategy to deliver growth and long-term value creation for stakeholders.

A cross-border and multi-practice DLA Piper team from offices in the UK and the Netherlands, worked on the transaction, led by Finance partner Mark Dwyer. He was supported by partners Mei Mei Wong, Lex Oosterling (both Finance), Michael Graham (Tax), senior associate Benno Leemans (Finance), and associates Sarah Wong and Olivier van Halem (both Finance) and Jason Carli and Ilse Lagerweij (both Tax).

Commenting on the transaction, Mark Dwyer said: "Having acted for VEON on financing matters since 2016, it was great to once again be alongside VEON in successfully closing a new facility strengthening their liquidity position and marking their strategic return to the international capital markets. We wish the company the best as it moves forward into its next phase of growth."