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VEON Ltd (VEON) delivers mobile connectivity, digital services, and fixed-line solutions across emerging markets through brands like Beeline and Kyivstar. This page aggregates all official announcements and third-party coverage related to the company’s operations, financial performance, and strategic initiatives.
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VEON Ltd. (NASDAQ: VEON) announces key details regarding its ruble denominated notes. The company confirms that there are no additional debt maturities at the HQ level for 2022. The notes include:
- RUB 20 billion (approx. USD 194 million) at 6.30%, maturing June 2025;
- RUB 10 billion (approx. USD 97 million) at 6.50%, maturing September 2025;
- RUB 20 billion (approx. USD 194 million) at 8.125%, maturing September 2026.
VEON, an international telecommunications company, emphasizes its commitment to employee safety and connectivity services amidst the humanitarian crisis in Ukraine. With operations in nine countries, VEON serves nearly 220 million customers, a third of whom are in Ukraine and Russia. The company has over 33,000 employees in these regions. The Board of Directors calls for a peaceful resolution to the conflict and is actively communicating with stakeholders regarding the situation.
VEON Ltd. announced the appointment of Michiel Soeting as a non-executive director and Chairman of the Audit & Risk Committee, effective March 16, 2022. Soeting, a former global lead partner at KPMG, brings over 30 years of extensive financial expertise and a strong governance background. His appointment fills the vacancy left by Robert Jan van de Kraats. VEON operates in nine countries, serving nearly 220 million customers and has a diverse investor base with no controlling shareholder and a majority of independent directors.
VEON Ltd. offers a business update amid market volatility, highlighting a strong liquidity profile with USD 2.1 billion in cash and deposits. The company has repaid USD 417 million in maturing bonds and cleared a RUB 30 billion loan. VEON assures stakeholders of its confident legal position as it faces no sanctions from the EU, US, or UK. The CEO emphasizes the company's commitment to protecting its employees and engaging with stakeholders, while the Digital Operator strategy aims to leverage growth opportunities.
VEON Ltd. (NASDAQ: VEON), a global connectivity provider, faced credit rating downgrades from Fitch and S&P due to new country ceilings for Ukraine and Russia. Fitch downgraded VEON from BBB- to B+, citing a significant decline in local operating environments but noted VEON's strong liquidity of approximately USD 2.1 billion as a stabilizing factor. S&P adjusted VEON's rating from BB+ to CCC+, emphasizing sound liquidity with around USD 1.5 billion cash. Despite these downgrades, VEON maintains a rating above Russia's sovereign rating, thanks to its geographic diversification.
VEON Ltd. (NASDAQ: VEON) has successfully prepaid its RUB 30 billion (about USD 259 million) interest-bearing loan with VTB Bank, in compliance with applicable sanctions. This repayment signifies that VEON Group has no remaining loans with VTB Bank, enhancing its financial position. The company emphasizes that all transactions are aligned with the current compliance framework.
VEON Ltd. announces that Robert Jan van de Kraats has resigned from its Board of Directors effective March 7, 2022, citing personal reasons. Van de Kraats has been a member since July 2018 and served as Chairman of the Audit and Risk Committee. Gennady Gazin, Chairman of the Board, expressed gratitude for his contributions. A new chairperson for the Audit and Risk Committee will be appointed later. The company emphasizes that forward-looking statements in the release are subject to risks and uncertainties.
VEON Ltd. (NASDAQ: VEON), a global provider of connectivity and internet services, announced that it is not subject to EU sanctions following the sanctions imposed on Mikhail Fridman and Peter Aven on February 28, 2022. VEON clarified that it has no ultimate controlling shareholder, with L1T VIP Holdings S.à r.l. holding 47.85% of shares. Fridman and Aven have no voting interests in VEON shares outside of their indirect interest in LetterOne, and they have stepped down from their roles. The company also cautioned about risks associated with forward-looking statements.
VEON Ltd. (NASDAQ: VEON) provided an update on its liquidity position as of February 27, 2022, stating it has approximately USD 2.1 billion in cash and deposits, with USD 1.5 billion held at its Amsterdam headquarters. Additionally, the company has a USD 1.250 billion committed revolving credit facility (RCF), of which USD 430 million has been drawn on February 28 to repay maturing notes. Following this, USD 820 million remains undrawn under the RCF. VEON has no further debt maturities in 2022, and the next maturity is scheduled for February 2023.
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