Veon back for $300m more
Emerging markets telecommunications firm Veon, formerly Vimpelcom, is topping up the $700m 4% April 2025s it sold in October by up to $300m, seemingly aiming to complete the size of bond originally planned.
The company released initial price guidance of 102.50-103.00 on Tuesday morning in London before tightening to 103.00-103.50. A US-based investor said he thought the tap looked attractive.
The original issue carries ratings of —/BB+/BBB-.The company said it is issuing the tap to refinance existing outstanding debt, ...