VEON Bolsters Financial Position With $210 Million Syndicated Loan

2025-03-29 05:30:02

(MENAFN- The Arabian Post) Arabian Post Staff -Dubai

VEON Ltd., a global digital operator, has secured a 24-month, $210 million senior unsecured term loan from a consortium of international lenders, including ICBC Standard Bank and leading Gulf Cooperation Council banks. The facility bears interest at the Secured Overnight Financing Rate plus 425 basis points.

Kaan Terzioğlu, CEO of VEON, stated that this new debt facility reflects the market's strong confidence in VEON's strategy, financial health, and future.

This financing marks VEON's return to the capital markets since relocating its headquarters from Amsterdam to Dubai. The move was completed in December 2024, following approvals from the company's Board of Directors. The relocation aligns with VEON's strategic realignment to be closer to key markets and leverage Dubai's status as a global business hub.

The successful syndication of the term loan underscores the confidence international lenders have in VEON's financial health and strategic direction. The involvement of prominent institutions such as ICBC Standard Bank and leading GCC banks highlights the company's strong relationships within the global financial community.

In addition to strengthening its financial position, VEON has been actively investing in its operating markets. In June 2024, the company committed $1 billion to enhance Ukraine's digital infrastructure through its subsidiary Kyivstar, demonstrating its dedication to supporting economic growth in the regions it serves.

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