Islamabad – 23 June 2021: Jazz has secured a PKR 50 billion syndicated credit score facility from a banking consortium led by HBL. This 10-year facility shall be used to finance the corporate’s ongoing 4G community rollouts and know-how upgradation.
That is the primary of its sort facility prolonged to the Telecom sector when it comes to the quantity and tenor. The power is totally subscribed by HBL, the consortium’s funding agent and mandated lead arranger. Different Banks who’re additionally appearing 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 companies 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 Company Restricted (PACRA) has additionally lately upgraded Jazz’s long-term score to ‘AA’ with a secure outlook, depicting the corporate’s sturdy monetary depth within the business.
“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 direction of making certain that persons are not certain by the restrictions of geography, gender, or socioeconomic background, in harnessing the ability of the web. A transaction of this measurement is a testomony to the belief the monetary neighborhood has on Jazz’s sturdy monetary profile and its management place within the telecom business,” stated Gabor Kocsis, Chief Monetary Officer, Jazz.
Muhammad Aurangzeb, President & CEO – HBL 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 twenty 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.”
CEO Jazz Aamir Ibrahim additionally tweeted https://twitter.com/aamir_ibrahim01/standing/1407714774280966145