Jazz has secured a PKR 50 billion syndicated credit facility from a banking consortium led by HBL. This 10-year facility will be used to finance the company’s ongoing 4G network rollouts and technology upgradation.

This is the first of its kind facility extended to the telecom sector in terms of the amount and tenor. The facility is fully subscribed by HBL, the consortium’s investment agent and mandated lead arranger. Other banks who are also acting as the mandated lead arrangers and advisors on this deal include: United Bank Limited, National Bank of Pakistan, MCB Bank, Bank Alfalah, Allied Bank Limited, Askari Bank Limited, Bank of Punjab, Meezan Bank Limited, and Faysal Bank Limited
Advertisement:
As the country’s leading digital services provider, Jazz has over 69 million subscribers and more than 28 million 4G users nationwide. Over a period of two years, the company has invested USD 462 million on 4G infrastructure. The Pakistan Credit Rating Agency Limited (PACRA) has also recently upgraded Jazz’s long-term rating to ‘AA’ with a stable outlook, depicting the company’s strong financial depth in the industry.

“We continue to drive the digital Pakistan agenda by improving digital infrastructure, bridging the digital divide, and focusing on financial inclusion. We are enabling societies by investing in entrepreneurship, digital skills, and literacy. This facility is an integral step towards ensuring that people are not bound by the limitations of geography, gender, or socioeconomic background, in harnessing the power of the internet. A transaction of this size is a testament to the trust the financial community has in Jazz’s strong financial profile and its leadership position in the telecom industry,” said Gabor Kocsis, Chief Financial Officer, Jazz.
Advertisement:
Muhammad Aurangzeb, President & CEO – HBL commenting on the occasion stated, “We are delighted to have led this landmark transaction in the Telecom sector. HBL has a long-standing relationship with Jazz spanning more than two decades. For the Bank, such transactions serve HBL’s strategic priority of supporting the promotion of digitalization across the country, while underscoring HBL’s commitment to stand by the robust and progressive telecom sector of Pakistan.”

http://feeds.feedburner.com/blogspot/ZuqEN
Leave a Reply

Your email address will not be published. Required fields are marked *

Sign Up for Our Newsletters

Get notified of the best deals on our WordPress themes.

You May Also Like

PTCL Group opens new Futsal Arena to promote physical health & wellbeing of employees

Pakistan’s largest telecommunication and integrated ICT services provider, PTCL Group (PTCL &…

Dubai’s Crypto Market and the Challenges: The Cryptoverse Responds to Global Changes

Dubai’s crypto market has been significantly influenced by the evolving global regulatory…

Zong 4G partners with Roshan Packages to provide customized and enhanced digital business solutions

Zong 4G, Pakistan’s leading digital company, has partnered with Roshan Packages Limited,…