Akin Gump Advises Vimpelcom on Eurobond Issues Totalling $3.7 Billion

LONDON – Akin Gump Strauss Hauer & Feld LLP has advised leading international telecoms company VimpelCom Ltd on two Eurobond issues in 2011 with a combined value of US$3.7 billion.

The company’s US$2.2 billion bonds, which closed at the end of June 2011, were issued by its subsidiary VimpelCom Holdings B.V. and guaranteed by OJSC Vimpel-Communications. The 3-year US$200 million floating rate notes bear an annual interest rate of 3 months US$ LIBOR plus 4.00% and is due in June 2014. The long 5-year US$500 million issue has a coupon of 6.2546% and is due in March 2017. The long 10-year US$1.5 billion issue has a coupon of 7.5043% and is due in March 2022.

Lead managers for the financing included Barclays Bank PLC, BNP Paribas, Citigroup Global Markets Limited, HSBC Bank plc, ING Bank N.V. and The Royal Bank of Scotland plc.

Akin Gump partners Dan Walsh, Fred Heller and Robert Aulsebrook led the team advising VimpelCom assisted by Alex Lemke and Katie Spencer.

The firm also advised VimpelCom as borrower on US$1.5 billion Eurobond issue structured as loan participation notes, which closed in February 2011. VimpelCom Finance Ireland Limited issued US$500 million 6.493% loan participation notes due 2016 and US$1 billion 7.748% loan participation notes due 2021 and loaned the proceeds to OJSC Vimpel-Communications.

Lead managers for this offering included Barclays Bank PLC, BNP Paribas, Citigroup Global Markets Limited and The Royal Bank of Scotland plc.

Akin Gump partners Dan Walsh, Fred Heller and Robert Aulsebrook led the team advising on this offering and were assisted by John Strickland and Katie Spencer.

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Founded in 1945, Akin Gump Strauss Hauer & Feld LLP, a leading international law firm, numbers more than 800 lawyers in the United States, Europe, Asia and the Middle East.

Akin Gump has advised VimpelCom in relation to all its international Capital Markets transactions since the 1990s. The firm also recently advised VimpelCom in its recent combination with Wind Telecom, creating the world’s sixth largest mobile telecommunications carrier by subscribers. The deal closed in April 2011. The firm also recently advised VimpelCom in its acquisition of 90% of the ordinary share capital of OJSC New Telephone Company in June 2011.