Leading global law firm Baker McKenzie advised Managers in connection with the issuance by VEON, a leading global provider of connectivity and internet services, of RUB 20 billion (approximately USD 273 million) 8.125% senior unsecured notes due 2026 in 144A / Reg S format issued under its Global Medium Term Note Programme. The issuance represents VEON's third Russian Rouble-denominated bond offering under its GMTN Programme.

Baker McKenzie represented Citigroup, Alfa-Bank, Sber CIB, and VTB Capital as Managers.

Leading on the transaction, London partner Rob Mathews said, "It has been fantastic to work on this high profile transaction. We are very pleased to have helped VEON achieve this valuable addition to the group's capital structure.”

The Baker McKenzie team was led by Capital Markets partners Rob Mathews and Roy Pearce and supported by senior associate Maxim Khrapov, associates Elaine Baynham (all London) and Charlene McAuley (Belfast) and trainee Bryan Leighton (London). Further support came from Banking and Finance partner Philippe Steffens and associate Jot van Suijlen (both in Amsterdam).

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. Over the past 12 months, Baker McKenzie also advised the investment banks in connection with VEON’s two previous Russian Rouble-denominated bond offerings and VTB Bank and Alfa-Bank in connection with the amendment and restatement of certain of VEON's credit facilities
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