AMSTERDAM, Dec. 27, 2018 /PRNewswire/ -- VEON Holdings B.V. (the
"Company") and VIP Finance Ireland DAC (in respect of the 2021 Notes (as defined below) only) today announces the
expiration of its offer to purchase ("Tender Offer") (subject to the terms and conditions set out in the tender offer and
consent solicitation memorandum (the "Tender Offer and Consent Solicitation Memorandum") in relation to any and all of its
outstanding:
(i) U.S.$1,000,000,000 7.748% Loan Participation Notes
due 2021 issued by, but with limited recourse to, VIP Finance Ireland DAC (formerly VIP Finance Ireland Limited) (ISIN: Rule 144A
US918242AD06/Reg S XS0587031096) (the "2021 Notes");
(ii) U.S.$1,500,000,000 7.5043% Guaranteed Notes due
2022 issued by VEON Holdings B.V. (formerly VimpelCom Holdings B.V.) (ISIN: Rule 144A US92718WAB54/Reg S XS0643183220) (the
"2022 Notes") and unconditionally and irrevocably guaranteed by Public Joint Stock Company "Vimpel-Communications";
and
(iii) U.S.$1,000,000,000 5.95% Notes due 2023 issued
by VEON Holdings B.V. (formerly VimpelCom Holdings B.V.) (ISIN: Rule 144A US92718WAE93/Reg S XS0889401724) (the "2023
Notes", and, together with the 2021 Notes and the 2022 Notes, the "Any and All Consent Notes" or the
"Notes").
Capitalised terms used and not otherwise defined in this announcement have the meanings given in the Tender Offer and Consent
Solicitation Memorandum.
Further to the announcement of the Tender Offer on 13 November 2018 and the announcement of the
Extended Expiration Time (as defined below) on 13 December 2018, the Company hereby informs Holders
that the Tender Offer has expired as of 10:00 a.m. (London time)
on 26 December 2018 (the "Extended Expiration Time"). As announced by the Company (in
the case of the 2022 Notes and the 2023 Notes) and VIP Finance Ireland DAC (in the case of the 2021 Notes only) on 14 December 2018, each of the Meetings have been adjourned to 28 December 2018
for lack of quorum. The Company will make a further announcement in respect of the Tender Offer and Consent Solicitation after
the conclusion of the adjourned Meetings on 28 December 2018.
For further information
Requests for documents and questions on procedures for participating in the Tender Offer and Consent Solicitation may be
directed to the Tender and Tabulation Agent, Citibank, N.A., London Branch at (Telephone: +44
207 508 3867; Email: exchange.gats@citi.com).
Questions regarding the Tender Offer and Consent Solicitation may be directed to Barclays Bank PLC, at (Telephone: (800) 438-3242
(toll free) or (212) 528-7581 (collect) within the U.S. and +44 20 3134 8515 outside the U.S.; Email: liability.management@barclays.com); Citigroup Global Markets
Limited, at (Telephone: (800) 558 3745 (toll free) or (212) 723 6106 (collect) within the U.S. and +44 20 7986 8969 outside the
U.S.; Email: liabilitymanagement.europe@citi.com); or Merrill Lynch International, at (Telephone: +44 20 7996 5420; Email:
DG.LM_EMEA@baml.com).
This announcement is for informational purposes only and does not constitute an offer to purchase or a solicitation of an
offer to sell with respect to the Notes. The Tender Offer and Consent Solicitation is being made only pursuant to the Tender
Offer and Consent Solicitation Memorandum and only in such jurisdictions as is permitted under applicable law.
Forward-Looking Statements
The Company considers portions of this announcement and the Tender Offer and Consent Solicitation Memorandum and the documents
incorporated by reference therein to be forward-looking statements. Forward-looking statements can be identified by the use of
words such as "may," "might," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "seek," "believe,"
"estimate," "predict," "potential," "continue," "contemplate," "possible" and other similar words. Forward-looking statements are
inherently subject to risks and uncertainties, many of which the Company cannot predict with accuracy and some of which the
Company might not even anticipate. Although the Company believes that the expectations reflected in such forward-looking
statements are based upon reasonable assumptions at the time made, these assumptions are inherently uncertain and involve a
number of risks and uncertainties that are beyond the Company's control; therefore, the Company can give no assurance that such
expectations will be achieved. Future events and actual results, financial and otherwise, may differ materially from the results
discussed in the forward-looking statements as a result of risks and uncertainties, including, without limitation, possible
changes in the timing and consummation of the Tender Offer and Consent Solicitation.
Holders are therefore cautioned not to place undue reliance on these forward-looking statements. The Company assumes no
obligation to update and supplement forward-looking statements that become untrue because of subsequent events, new information
or otherwise except as may be required under Rule 14e-l under the Exchange Act or any other applicable laws.
Such forward-looking statements contained in this announcement and the Tender Offer and Consent Solicitation Memorandum or any
document incorporated by reference therein speak only as of the date of this announcement and the Tender Offer and Consent
Solicitation Memorandum or such document incorporated by reference therein. Accordingly, the Company does not undertake any
obligation to update, except as required by U.S. federal securities laws, any forward-looking statement to reflect events or
circumstances after such dates or to reflect the occurrence of unanticipated events. Holders should, however, consult any further
disclosures of a forward-looking nature made in the documents incorporated by reference in the Tender Offer and Consent
Solicitation Memorandum. These cautionary statements qualify all forward-looking statements attributable to the Company, or
persons acting on its behalf.
OFFER AND DISTRIBUTION RESTRICTIONS
Neither this announcement nor the Tender Offer and Consent Solicitation Memorandum constitutes an invitation to participate in
the Tender Offer and Consent Solicitation in any jurisdiction in which, or to any person to or from whom, it is unlawful to make
such invitation or for there to be such participation under applicable securities laws. The distribution of this announcement and
the Tender Offer and Consent Solicitation Memorandum in certain jurisdictions may be restricted by law. Persons into whose
possession this announcement or the Tender Offer and Consent Solicitation Memorandum comes are required by the Company, the
Dealer Managers and the Tender and Tabulation Agent to inform themselves about and to observe any such restrictions.
United Kingdom
This announcement and the Tender Offer and Consent Solicitation Memorandum and any other documents or materials relating to
the Tender Offer and Consent Solicitation (including memoranda, information circulars, brochures or similar documents) have not
been approved by an authorised person in the United Kingdom for the purposes of Section 21 of
the FSMA. Accordingly, such documents and/or materials relating to the Tender Offer and Consent Solicitation are not being
distributed to, and must not be passed onto, the general public in the United Kingdom. Such
documents and/or materials are for distribution only to persons who (i) have professional experience in matters relating to
investments (being investment professionals falling within Article 19(5) of the Financial Promotion Order), (ii) are persons
falling within Article 49(2)(a) to (d) ("high net worth companies, unincorporated associations etc.") of the Financial Promotion
Order, (iii) are outside the United Kingdom, or (iv) are persons to whom an invitation or
inducement to engage in investment activity (within the meaning of Section 21 of the FSMA) may otherwise lawfully be communicated
or caused to be communicated (all such persons together being referred to as "relevant persons"). This announcement and
the Tender Offer and Consent Solicitation Memorandum is directed only at relevant persons and must not be acted on or relied on
by persons who are not relevant persons. Any investment or investment activity to which this announcement or the Tender Offer and
Consent Solicitation Memorandum relates is available only to relevant persons and will be engaged in only with relevant persons.
No part of this announcement or the Tender Offer and Consent Solicitation Memorandum should be published, reproduced, distributed
or otherwise made available in whole or in part to any other person.
No person may communicate or cause to be communicated any invitation or inducement to engage in investment activity (within
the meaning of Section 21 of the FSMA) received by it in connection with the issue or sale of the securities other than in
circumstances in which Section 21(1) of the FSMA does not apply.
Republic of Italy
None of this announcement, the Tender Offer and Consent Solicitation Memorandum or any other documents or materials relating
to the Tender Offer and Consent Solicitation Memorandum and/or the Tender Offer and Consent Solicitation have been or will be
submitted to the clearance procedure of the Commissione Nazionale per le Società e la Borsa ("CONSOB") pursuant to
Italian laws and regulations. The Tender Offer and Consent Solicitation is being carried out in the Republic of Italy ("Italy") as an exempted offer pursuant to article 101-bis,
paragraph 3-bis of the Legislative Decree No. 58 of 24 February 1998, as amended (the "Financial
Services Act") and article 35-bis, paragraph 4 of CONSOB Regulation No. 11971 of 14 May 1999,
as amended (the "Issuers' Regulation"), as the case may be.
Accordingly, Holders or beneficial owners of the Notes that are located or resident in Italy
can tender the Notes for purchase pursuant to the Tender Offer through authorised persons (such as investment firms, banks or
financial intermediaries permitted to conduct such activities in Italy in accordance with the
Financial Services Act, CONSOB Regulation No. 16190 of 29 October 2007, as amended from time to
time, and Legislative Decree No. 385 of 1 September 1993, as amended from time to time) and in
compliance with applicable laws and regulations or with requirements imposed by CONSOB or any other Italian authority.
Each intermediary must comply with the applicable laws and regulations concerning information duties vis-à-vis its clients in
connection with the Notes or the Tender Offer and Consent Solicitation.
The Republic of France
The Tender Offer and Consent Solicitation is not being made, directly or indirectly, to the public in the Republic of
France ("France"). This announcement, the Tender Offer
and Consent Solicitation Memorandum or any other documentation or material relating to the Tender Offer and Consent Solicitation
(including memoranda, information circulars, brochures or similar documents) have not been distributed to, and or are not being
distributed to, the general public in France. Only (i) persons that provide investment services
relating to portfolio management for the account of third parties (personnes fournissant le service d'investissement de
gestion de portefeuille pour compte de tiers) and/or (ii) qualified investors (investisseurs qualifiés) (that are not
individuals), in each case acting on their own account, and all as defined in and pursuant to articles L.411-1, L.411-2 and
D.411-1 of the French Code Monétaire et Financier, are eligible to participate in the Tender Offer and Consent
Solicitation. This announcement, the Tender Offer and Consent Solicitation Memorandum and any other documents or materials
relating to the Tender Offer and Consent Solicitation have not been submitted for clearance to or approved by of the Autorité
des Marchés Financiers.
Ireland
This announcement and the Tender Offer and Consent Solicitation is not being made, directly or indirectly, to the public in
Ireland and no offers or sales of any Notes under or in connection with the Tender Offer and
Consent Solicitation may be effected and this announcement and the Tender Offer and Consent Solicitation Memorandum may not be
distributed in Ireland except in conformity with the provisions of Irish law including (i) the
Companies Act 2014 (as amended), (ii) the European Union (Markets in Financial Instruments) Regulations 2017 (as amended),
including without limitation, Regulation 5 (Requirements for authorisation (and certain provisions concerning MTFs and OTFs)) or
any codes of conduct issued in connection therewith, and the provisions of the Investor Compensation Act 1998 (as amended), (iii)
the Market Abuse Regulation (EU 596/2014) (as amended) and any rules and guidance issued under Section 1370 of the Companies Act
2014, and (iv) the Central Bank Acts 1942 to 2015 and any codes of practice made under Section 117(1) of the Central Bank Act
1989 (as amended).
General
The Dealer Managers, the Tender and Tabulation Agent, BNY Mellon Corporate Trustee Services Limited ("BNYM") and
Citibank, N.A., London Branch ("Citibank" and together with BNYM, the "Trustees")
(or their respective directors, officers, employees, agents or affiliates) have not separately verified the information contained
herein or in the Tender Offer and Consent Solicitation Memorandum (or incorporated by reference therein) and make no
representations, warranties, undertakings or recommendations (express or implied) whatsoever regarding this announcement, the
Tender Offer and Consent Solicitation Memorandum or any other information provided in connection with the Tender Offer and
Consent Solicitation. The Dealer Managers, the Tender and Tabulation Agent and the Trustees (or their respective directors,
officers, employees, agents or affiliates) accept no liability or responsibility as to the accuracy or completeness of the
information contained in the Tender Offer and Consent Solicitation Memorandum, this announcement or any other information
provided in connection with the Tender Offer and Consent Solicitation.
This announcement and the Tender Offer and Consent Solicitation Memorandum or the electronic transmission thereof does not
constitute an offer to buy any securities or the solicitation of a Tender Instruction or Voting Only Instruction in any
jurisdiction in which such offer or solicitation is unlawful, and Tender Instructions or Voting Only Instructions by Holders
originating from any jurisdiction in which such offer or solicitation is unlawful will be rejected. In those jurisdictions where
the securities laws, "blue sky" laws or other applicable laws require this announcement and/or the Tender Offer and Consent
Solicitation to be made by a licensed broker or dealer and any Dealer Manager or any of its respective affiliates is such a
licensed broker or dealer in such jurisdiction, the Tender Offer and Consent Solicitation shall be deemed to be made on behalf of
the Company by such Dealer Manager or affiliate (as the case may be) in such jurisdiction and the Tender Offer and Consent
Solicitation is not made in any such jurisdiction where either a Dealer Manager or any of its affiliates is not licensed. The
delivery of this announcement, the delivery of the Tender Offer and Consent Solicitation Memorandum or any purchase of Notes
shall not, under any circumstances, create any implication that there has been no change in the affairs of the Company since the
date hereof, or that the information herein is correct as of any time subsequent to the date hereof.
Each Holder participating in the Tender Offer and Consent Solicitation will be deemed to give certain representations in
respect of the jurisdictions referred to above, and generally, on submission of a Tender Instruction or a Voting Only
Instruction, as the case may be, in the Tender Offer and Consent Solicitation. Any submission of a Tender Instruction, or
delivery of a Voting Only Instruction, as the case may be, pursuant to the Tender Offer and Consent Solicitation from a Holder
that is unable to make these representations may be rejected. Each of the Company, the Dealer Managers and the Tender and
Tabulation Agent reserves the right, in its absolute discretion, to investigate, in relation to any Tender Instruction or Voting
Only Instruction, whether any such representation given by a Holder is correct and, if such investigation is undertaken and as a
result the Company determines (for any reason) that such representation is not correct, such tender may be rejected.
The information contained in this announcement constitutes inside information with respect to VEON Holdings B.V. and VIP
Finance Ireland DAC for the purposes of Regulation (EU) No. 596/2014 on market abuse.
About VEON
VEON is a NASDAQ and Euronext Amsterdam-listed global provider of connectivity and internet services.
For more information visit: www.veon.com.
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SOURCE VEON Holdings B.V.