Leading global law firm Baker McKenzie has advised the Managers in connection with the issuance by VEON, a leading global provider of connectivity and internet services, of RUB 10 billion ($133 million based on USD/RUB=75.340) 6.5% senior unsecured notes due 2025 in 144A / Reg S format under its Global Medium Term Note program, established in April by VEON Holdings B.V. The settlement date for the offering was September 11, 2020.
This is VEON's second Russian Rouble-denominated bond offering this year, following a similar RUB 20 billion issuance in June, and represents another step forward in its ongoing capital structure enhancement.
Baker McKenzie represented Citigroup, Sberbank CIB and VTB Capital, as Joint Lead Managers.
Leading on the transaction, London partner Rob Mathews said, "This deal was a great example of VEON, their investment banks and advisors collaborating to quickly and efficiently launch a successful transaction in a volatile market. It was a great opportunity to be a part of this transaction.”
The Baker McKenzie team was led from London by Capital Markets partners Rob Mathews, Roy Pearce and Haden Henderson, alongside senior associate Maxim Khrapov, associates Samantha Greer and Luke Hackett and trainee Clementine Metcalfe. They were supported by teams from the Firm's offices in Amsterdam (partner Philippe Steffens and associate Jot van Suijlen) and in the US (partners Kai Kramer and Patricia McDonald).
This transaction is the latest example of Baker McKenzie's full service bank/bond finance practice, representing corporates, lenders and underwriters, and financial sponsors across a broad range of financial products. Earlier this year, Baker McKenzie also advised VTB Bank in connection with the amendment and restatement of VEON's RUB 30 billion credit facility.