VEON Announces a New RUB 100 Billion Term Loan Agreement With Sberbank

VEON Ltd. (NASDAQ: VEON) (Euronext Amsterdam: VEON) announced today that its subsidiary VEON Holdings B.V. has successfully entered into a new RUB 100 billion, approximately USD 1.5 billion1, bilateral term loan agreement with Sberbank.  The loan 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 general corporate purposes.

VEON Group Chief Financial Officer Serkan Okandan commented: "This new loan agreement is a further milestone in our continued focus on improving VEON's capital structure.  We are pleased with the strong ongoing commitment we have received from Sberbank in relation to this loan, which reinforces the Group's objectives with respect to capital structure and financial flexibility."

1 Based on USD/RUB=68.6540

About VEON

VEON is a NASDAQ and Euronext Amsterdam-listed global provider of connectivity and internet services.  For more information visit: www.veon.com.