ISLAMABAD: Jazz has secured a Rs50 billion syndicated credit score facility
from a banking consortium led by HBL. This 10-year facility will probably be used to finance the
firm’s ongoing 4G community rollouts and expertise upgradation.
That is the primary of its form facility prolonged to the telecom sector by way of the quantity
and tenor. The ability is absolutely subscribed by HBL, the consortium’s funding agent and
mandated lead arranger. Different Banks who’re additionally performing because the mandated lead
arrangers and advisors on this deal embrace, United Financial institution Restricted, Nationwide Financial institution of
Pakistan, MCB Financial institution, Financial institution Alfalah, Allied Financial institution Restricted, Askari Financial institution Restricted, Financial institution of
Punjab, Meezan Financial institution Restricted, and Faysal Financial institution Restricted.
Because the nation’s main digital providers supplier, Jazz has over 69 million subscribers
and greater than 28 million 4G customers nationwide. Over a interval of two years, the corporate
has invested USD 462 million on 4G infrastructure. The Pakistan Credit score Score AgencyLimited (PACRA) has additionally lately upgraded Jazz’s long-term ranking to ‘AA’ with a
steady outlook, depicting the corporate’s sturdy monetary depth within the trade.
HBL, Pakistan’s largest financial institution, was the primary industrial financial institution to be established in
Pakistan in 1947. Over time, HBL has grown its department community to over 1,650+
branches, 2,100+ ATMs and 54,000+ Konnect by HBL brokers (branchless banking
platform), serving over 23 million prospects in 14 international locations internationally.
“We proceed to drive the digital Pakistan agenda by bettering digital infrastructure,
bridging the digital divide and specializing in monetary inclusion. We’re enabling societies
by investing in entrepreneurship, digital expertise and literacy. This facility is an integral step
in the direction of guaranteeing that persons are not sure by the constraints of geography, gender, or
socioeconomic background, in harnessing the ability of the web. A transaction of
this dimension is a testomony to the belief the monetary neighborhood has on Jazz’s sturdy
monetary profile and its management place in the telecom trade,” stated Gabor
Kocsis, chief monetary officer at Jazz.
HBL President and CEO Muhammad Aurangzeb, commenting on the event, said,
“We’re delighted to have led this landmark transaction within the Telecom sector. HBL has
a long-standing relationship with JAZZ spanning greater than 20 years. For the Financial institution,
such transactions serve HBL’s strategic precedence of supporting the promotion of
digitalization throughout the nation, whereas underscoring HBL’s dedication to face by the
sturdy and progressive Telecom sector of Pakistan.”