Leading global law firm Baker McKenzie has advised the coordinators, arrangers and bookrunners, Citi and J.P. Morgan in connection with VEON’s successful new multi-currency revolving credit facility agreement (the “RCF”) of USD 1.25 billion for VEON Holdings B.V. (“VEON Holdings”). The RCF has replaced the existing revolving credit facility signed in 2017. VEON is a leading global provider of connectivity and internet services to 210 million customers in nine countries across Africa and Asia.

Banking partner Nick O’Grady of Baker McKenzie said, “We are delighted to advise on VEON’s new revolving credit facility, which continues a long-term trend of acting on VEON's financing after a number of other transactions in recent years. This is a perfect example of utilising our cross-jurisdiction capabilities in helping VEON, their investment banks and advisors in efficiently launching another successful transaction.”

Baker McKenzie and VEON relationship partner in EMEA Rob Mathews commented, “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. We also recently advised the investment banks in connection with VEON’s issuance of US$ 1.25 billion 3.375% senior notes.”

The Baker McKenzie UK team was led by Banking partner Nick O’Grady and supported by associates Matt Mazenier and Lana Ahern, and Trainees Nick Parker and India-Rose May. Capital Markets partners Rob Mathews and Haden Henderson provided further support as VEON relationship partners. Partners James Smith, Mark Agnew and associates Holly Bradley, Vadim Romanoff and Taras Varava (all London) advised on tax matters. Managing partner Corinne Schot, partners Wibren Veldhuizen and Kim Tan, and associates Paul van de Ven and Fons Ravelli and Legal director Martijn van der Vliet (all Amsterdam) advised on Dutch law aspects.

The transaction closed Tuesday 9 March 2021.

 

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