VTB Bank’s Refinancing of Bilateral Term Loan Agreement with VEON

Baker McKenzie advised VTB Bank on the deal.

VTB Bank completed a refinancing of its bilateral term loan agreement with VEON Holdings B.V. (a subsidiary of VEON Ltd.

VEON Holdings B.V. has successfully refinanced its existing RUB 30 billion (approximately US$422 million) bilateral term loan agreement, which will extend the maturity and reduce the cost of the existing loan.

VEON Holdings B.V. operates as a holding company, and through its subsidiaries, provides communications and technology services such as voice, fixed broadband, data, and digital services.

VTB Bank PJSC offers debt origination, trade financing, and custody services, as well as trades in derivatives, commodities, money markets.

The Baker McKenzie team was led by partner Nick O’Grady (Picture) and included associates Sonali Maulik, Emily Rothfield and Samantha Greer, partner Matthew Legg, associate Rose Allan, Martijn van der Vliet (legal director), associate Barbee Bartels, partner Simon Morgan, associate Andrey Lebedev (both Moscow), finance partners Rob Mathews and Haden Henderson (London).

Involved fees earner: Rose Allan – Baker McKenzie; Barbée Bartels – Baker McKenzie; Samantha Greer – Baker McKenzie; Haden Henderson – Baker McKenzie; Andrey Lebedev – Baker McKenzie; Matthew Legg – Baker McKenzie; Rob Mathews – Baker McKenzie; Sonali Maulik – Baker McKenzie; Simon Morgan – Baker McKenzie; Nick O’Grady – Baker McKenzie; Emily Rothfield – Baker McKenzie; Martijn van der Vliet – Baker McKenzie;

Law Firms: Baker McKenzie;

Clients: VTB Bank;