Akin Gump Advises VimpelCom on Eurobonds Totalling $2 Billion

(London, UK) – Akin Gump Strauss Hauer & Feld LLP has advised VimpelCom Holdings B.V. on a $2 billion Eurobond financing, including a RUB 12 billion tranche and two dollar-denominated tranches totalling $1.6 billion.  VimpelCom Holdings is an indirect wholly owned subsidiary of VimpelCom Ltd., one of the world’s largest integrated telecommunications services operators. The transaction closed today, February 13, 2013.

The Eurobonds are guaranteed by VimpelCom’s Russian subsidiary, OJSC “Vimpel-Communications,” also advised by Akin Gump, and are listed on the Irish Stock Exchange. The coupons on the dollar-denominated notes were the lowest coupon in VimpelCom’s history, and the ruble-denominated notes represent the first ruble Eurobond issuance by a non-financial services or non-state-owned company.

Akin Gump partner Fred Heller led the team advising VimpelCom, supported by counsel Lisa Hearn and partner Robert Aulsebrook in London, partner Bruce Mendelsohn in New York and teams in London and Moscow.

 

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