Veon brings 2019 bond up to targeted $1bn

Emerging markets1_230
By Francesca Young
15 Jan 2020

Emerging markets telecommunications firm Veon, formerly Vimpelcom, printed a $300m tap of its $700m 4% April 2025s on Wednesday from a book of more than $1bn and paying a new issue premium of only 5bp, according to a syndicate official on the tap.

The deal seemed to complete the size of the bond initially planned when the original deal was sold in October. Several analysts at the time expected a $1bn sale but the original print was just $700m. The leads were also forced to print at the wide end of 3.875%-4% ...

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