DLA Piper advises VEON on loan syndication

Global law firm DLA Piper has provided its expertise to long-standing client VEON Ltd in the syndication of a senior unsecured term loan, amounting to USD210 million. This transaction, announced on 2 April 2025, comes under a new facility agreement involving a consortium of international lenders, including ICBC Standard Bank and several prominent GCC banks. Headquartered in Dubai and listed on NASDAQ, VEON plays a crucial role in delivering connectivity and access to digital services for over 160 million customers across its six operational countries.

The newly secured facility will not only bolster VEON’s liquidity position but also underline the company's dedication to executing its digital operator strategy, which aims to foster growth and long-term value for its stakeholders. A dedicated cross-border and multi-practice team from DLA Piper, with offices in the UK and the Netherlands, orchestrated the transaction, led by Finance partner Mark Dwyer. He collaborated with his colleagues, partners Mei Mei Wong and Lex Oosterling from Finance, Michael Graham from Tax, senior associate Benno Leemans, and associates Sarah Wong, Olivier van Halem, Jason Carli, and Ilse Lagerweij.

Mark Dwyer commented on the significance of this agreement by stating “Having acted for VEON on financing matters since 2016, it was great to once again be alongside VEON in successfully closing a new facility strengthening their liquidity position and marking their strategic return to the international capital markets. We wish the company the best as it moves forward into its next phase of growth.” With this transaction, VEON aims not only to solidify its financial foundation but also to embark on new avenues for enhancing its service offerings in the digital landscape.