VimpelCom enters into multi-currency term, revolving facilities agreement of up to USD 2.25bn

Amsterdam, Netherlands-based telecommunications and digital services provider VimpelCom Group (NASDAQ: VIP) has entered into a new multi-currency term and revolving facilities agreement (the “TL/RCF”) of up to USD 2.25bn for VimpelCom Holdings B.V. (“VIP Holdings”), the company said.

The TL/RCF will replace the existing USD 1.8bn revolving credit facility signed in 2014. The term facility has a five-year tenor and the revolving credit facility has an initial tenor of three years, with VIP Holdings having the right to request two one-year extensions to the tenor of the revolving credit facility, subject to lender consent.

Several international banks have committed to the TL/RCF in an aggregate amount of USD 2.108bn. The TL/RCF includes an option to increase the amount of the facilities up to the full USD 2.25bn amount, which would consist of a term facility of USD 562,500,000 and a revolving credit facility of USD 1,687,500,000. VIP Holdings will have the option to make each drawdown under the facilities in either US dollars or euros.

VimpelCom provides more than 200m customers with voice, fixed broadband, data and digital services. It offers services to customers in 13 markets including Russia, Italy, Algeria, Pakistan, Uzbekistan, Kazakhstan, Ukraine, Bangladesh, Kyrgyzstan, Tajikistan, Armenia, Georgia and Laos.