DLA Piper advises VEON Holdings B.V. on its RUB100bn refinancing

DLA Piper has advised VEON Holdings B.V., a member of the multinational telecommunications VEON group, on the RUB100 billion (approximately USD1.5 billion) refinancing of its facilities with Sberbank of Russia.

The new term loan facility entered into with Sberbank on 3 June 2020 will be used to refinance and extend the maturity of the existing loan between Sberbank and VEON Holdings, as well as to provide additional funds for VEON Holdings’ general corporate purposes.

DLA Piper’s partner Mark Dwyer, who led the team advising on the transaction, said: “The refinancing forms part of VEON’s continued objective to improve its global capital structure, and is a another transaction which strengthens the relationship between DLA Piper, utilising its cross-border capabilities, and a key global client.”

The DLA Piper Finance team was led by London-based partner Mark Dwyer, legal director Mei Mei Wong and associate Elvis Dangol. They were assisted by Amsterdam-based partner Gerard Kneppers and advocaat Jocelyn van Moergastel, as well as Moscow-based partner Karen Young and legal director Alexei Kolesnikov.

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