May 30 VimpelCom Holdings B.V., a subsidiary of
* Commenced a cash tender offer for any and all of the
outstanding $1.0 billion 9.125-percent Loan Participation Notes
due 2018, $1.0 billion 7.748-percent Loan Participation Notes
due 2021, and $1.5 billion 7.5043-percent Guaranteed Notes due
* Intends to offer new senior unsecured notes.
* The purpose of the offer is to acquire any and all of the
notes, which will be funded principally by the issuance of the
new notes and would have the effect of extending the maturity
profile of a portion of VEON's indebtedness.
* Notwithstanding the potential offering of new notes, the
Group may fund a portion of the Offer with available cash.
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(Reporting by Moscow Newsroom)