Leading global law firm Baker McKenzie has advised the Arrangers and Dealers on the establishment of a US $6.5 billion Global Medium Term Note programme by VEON, a leading global provider of connectivity and internet services. The programme, established on April 16, provides future issuance capacity across multiple currencies, which will be made by VEON at its discretion.

Baker McKenzie represented Citi and J.P. Morgan as dealers and arrangers in connection with the establishment of the programme and Barclays, BofA Securities and HSBC as dealers. Baker McKenzie also represented Citi as trustee.

Leading on the transaction, London partner Rob Mathews said, "This deal represents a milestone for our growing cross-border debt capital markets bank/bond practice for global corporates across multiple jurisdictions. It was a great opportunity to work with VEON and the Arrangers and Dealers on this high profile transaction."

Commenting on the transaction London partner, Haden Henderson, added: "With the team having recently acted for Alfa-Bank in connection with the amendment and restatement of its credit facility to VEON, it was great to act for the arrangers and dealers on the programme establishment. These transactions demonstrate the strength of our newly expanded bank/bond offering in London and the team's expertise in the TMT sector."
The Baker McKenzie team was led from London by Capital Markets partners Rob Mathews, Roy Pearce and Haden Henderson, alongside senior associate Maxim Khrapov and associates Samantha Greer, Andrew J. Brown and Luke Hackett. Partner Simon Porter and associate Stephanie Lim advised on the trustee aspects of the transaction. They were supported by teams from the Firm's offices in Amsterdam (partner Philippe Steffens and associate Jot van Suijlen), in Moscow (partner Dmitry Dembich and associate Uliana Tokareva), and in the US (partner Kai Kramer; partner Patricia McDonald; and counsel Michael Poland). 

This transaction is the latest example of Baker McKenzie's full service debt capital markets practice, representing corporate issuers, underwriters and financial sponsors across a broad range of financial products. Other recent examples include our representation of the managers on Teva Pharmaceutical's US $2.1 billion bond issuance and Cabot's €400 million high yield bond issuance.

Baker McKenzie is a transactional powerhouse with over 2,500 deal lawyers and expertise in over 46 countries. We do more cross-border transactions than any other law firm in the world, and are ranked #1 in cross-border deals over the past decade. We are global and local, combining money market sophistication with local excellence. The Firm assists clients through all stages of a transaction, from preparing the business for sale or performing due diligence, to negotiating the purchase agreement, coordinating the closing across multiple jurisdictions, and integrating the operations of the resulting business.
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