DLA Piper has advised Veon Holdings B.V., a member of the multinational VEON group, on the RUB 100 billion refinancing of its facilities with Russia's Sberbank. Herbert Smith Freehills advised Sberbank.
According to DLA Piper, "the new term loan facility entered into with Sberbank on 3 June 2020 will be used to refinance and extend the maturity of the existing loan between Sberbank and Veon Holdings, as well as to provide additional funds for Veon Holdings’ general corporate purposes."
The DLA Piper team was led by London-based Partner Mark Dwyer, Legal Director Mei Mei Wong and Associate Elvis Dangol. The Amsterdam team included Partner Gerard Kneppers and Advocaat Jocelyn van Moergastel, and the Moscow team consisted of Partner Karen Young and Legal Director Alexei Kolesnikov.