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FINANCIAL RISK MANAGEMENT (Tables)

12 Months Ended

Dec. 31, 2017

FINANCIAL RISK MANAGEMENT

Schedule of available facilities for liquidity risk

Amounts in millions of transactional currency

US$ equivalent amounts

Final availability period

Facility amount

Utilized

Available

Facility amount

Utilized

Available

2017

VEON Holdings B.V.—Revolving Credit Facility*

Feb 2020

US$1,688

US$250

US$1,438

1,688

250

1,438

VEON Holdings B.V.—Term Loan Facility

May 2018

RUB 45,000 million

RUB 30,000 million

RUB 15,000 million

781

520

261

Banglalink Digital Communications Ltd.—Syndicated Term Loan Facility

Sep 2018

BDT 29,300 million

—

BDT 29,300 million

353

—

353

Pakistan Mobile Communications Limited—Syndicated Term Loan Facility

Jun 2018

PKR 26,750 million

PKR 17,000 million

PKR 9,750 million

242

154

88

Pakistan Mobile Communications Limited—Term Loan Facility

Jun 2018

PKR 10,000 million

PKR 5,000 million

PKR 5,000 million

90

45

45

2016

VEON Amsterdam B.V.—Revolving Credit Facility

March 2017

US$1,800

—

US$1,800

1,800

—

1,800

VEON Holdings B.V.—Vendor Financing Facility China Development Bank

September 2018

RMB 700 million

RMB 149 million

RMB 551 million

101

21

80

PJSC VimpelCom—Revolving Credit Facility Sberbank

May 2017

RUB 15,000 million

—

RUB 15,000 million

247

—

247

Optimum Telecom Algérie SpA—Term Loan Facility

December 2017

DZD 32,000 million

—

DZD 32,000 million

290

—

290

* The facility amount of US$1,688 is available until February 2020. Subsequently a reduced facility amount of US$1,586 is available until February 2021.

Schedule of maturity analysis of financial liabilities

Less than 1 year

1 - 3 years

3 - 5 years

More than 5 years

Total

At December 31, 2017

Bank loans and bonds

1,862

4,141

4,958

2,774

13,735

Derivative financial liabilities

Gross cash inflows

(37

)

(49

)

(12

)

—

(98

)

Gross cash outflows

29

27

51

—

107

Trade and other payables

1,523

—

—

—

1,523

Other financial liabilities

—

62

—

—

62

Warid non-controlling interest put option liability

—

310

—

—

310

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total financial liabilities

3,377

4,491

4,997

2,774

15,639

Related derivatives financial assets

Gross cash inflows

(275

)

—

—

—

(275

)

Gross cash outflows

270

—

—

—

270

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Related derivative financial assets

(5

)

—

—

—

(5

)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total financial liabilities, net of derivative assets

3,372

4,491

4,997

2,774

15,634

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Less than 1 year

1 - 3 years

3 - 5 years

More than 5 years

Total

At December 31, 2016

Bank loans and bonds

3,529

3,897

2,018

3,310

12,754

Derivative financial liabilities

Gross cash inflows

(451

)

—

—

—

(451

)

Gross cash outflows

495

2

—

—

497

Trade and other payables and dividend payables

1,744

—

—

—

1,744

Other financial liabilities

29

44

—

—

73

Warid non-controlling interest put option liability

—

—

290

—

290

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total financial liabilities

5,346

3,943

2,308

3,310

14,907

Related derivatives financial assets

Gross cash inflows

(29

)

—

—

—

(29

)

Gross cash outflows

27

—

—

—

27

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Related derivative financial assets

(2

)

—

—

—

(2

)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total financial liabilities, net of derivative assets

5,344

3,943

2,308

3,310

14,905

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

INTEREST RATE RISK

FINANCIAL RISK MANAGEMENT

Schedule of sensitivity analysis

		Effect on profit / (loss) before tax						Effect on other comprehensive income
Increase / decrease in basis points			+100			–100			+100			–100
2017
Euro			(7	)		7			23			(24	)
U.S. Dollar			3			(3	)		(20	)		21
Pakistani Rupee			(3	)		3			1			(1	)
Ukrainian Hryvnia			2			(2	)		—			—
Other currencies			4			(4	)		—			—
2016
Algerian Dinar			(1	)		1			—			—
Uzbek Som			7			(7	)		—			—
Pakistani Rupee			—			—			2			(2	)
Ukrainian Hryvnia			1			(1	)		—			—
Other currencies			2			(2	)		—			—

FOREIGN CURRENCY RISK

FINANCIAL RISK MANAGEMENT

Schedule of sensitivity analysis

		Effect on profit / (loss) before tax						Effect on other comprehensive income
Change in foreign exchange rate against US$			10% depreciation			10% appreciation			10% depreciation			10% appreciation
2017
Russian Ruble			44			(48	)		—			—
Bangladeshi Taka			(69	)		76			—			—
Pakistani Rupee			(27	)		30			—			—
Kazakh Tenge			4			(5	)		—			—
Uzbek Som			(12	)		13			—			—
Georgian Lari			(32	)		35			—			—
Armenian dram			(0	)		1			—			—
Euro			(18	)		20			132			(145	)
Algerian Dinar			(3	)		3			—			—
Other currencies			0			(0	)		—			—
2016
Russian Ruble			(80	)		84			30			(33	)
Bangladeshi Taka			(68	)		75			—			—
Pakistani Rupee			(30	)		33			—			—
Kazakh Tenge			5			(5	)		—			—
Uzbek Som			(4	)		4			(27	)		30
Georgian Lari			(30	)		33			—			—
Armenian dram			18			(20	)		—			—
Euro			(9	)		10			—			—
Algerian Dinar			(3	)		4			—			—
Other currencies			(5	)		5			—			—

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