ANL 10.51 Decreased By ▼ -0.77 (-6.83%)
ASC 9.33 Decreased By ▼ -0.67 (-6.7%)
ASL 10.51 Decreased By ▼ -0.49 (-4.45%)
AVN 68.40 Decreased By ▼ -3.90 (-5.39%)
BOP 5.92 Decreased By ▼ -0.14 (-2.31%)
CNERGY 5.20 Decreased By ▼ -0.32 (-5.8%)
FFL 6.41 Decreased By ▼ -0.39 (-5.74%)
FNEL 6.10 Decreased By ▼ -0.18 (-2.87%)
GGGL 11.05 Decreased By ▼ -0.27 (-2.39%)
GGL 15.17 Decreased By ▼ -1.25 (-7.61%)
GTECH 9.00 Decreased By ▼ -0.92 (-9.27%)
HUMNL 6.35 Decreased By ▼ -0.50 (-7.3%)
KEL 2.55 Decreased By ▼ -0.15 (-5.56%)
KOSM 2.89 Decreased By ▼ -0.16 (-5.25%)
MLCF 28.65 Decreased By ▼ -1.01 (-3.41%)
PACE 2.90 Decreased By ▼ -0.20 (-6.45%)
PIBTL 6.00 Decreased By ▼ -0.10 (-1.64%)
PRL 14.75 Decreased By ▼ -0.61 (-3.97%)
PTC 6.93 Decreased By ▼ -0.10 (-1.42%)
SILK 1.01 Decreased By ▼ -0.06 (-5.61%)
SNGP 26.60 Decreased By ▼ -0.85 (-3.1%)
TELE 10.18 Decreased By ▼ -0.97 (-8.7%)
TPL 9.00 Decreased By ▼ -0.32 (-3.43%)
TPLP 15.76 Decreased By ▼ -1.29 (-7.57%)
TREET 30.05 Decreased By ▼ -1.50 (-4.75%)
TRG 73.71 Decreased By ▼ -1.96 (-2.59%)
UNITY 21.57 Decreased By ▼ -0.99 (-4.39%)
WAVES 12.30 Decreased By ▼ -0.88 (-6.68%)
WTL 1.45 Decreased By ▼ -0.10 (-6.45%)
YOUW 4.91 Decreased By ▼ -0.33 (-6.3%)
BR100 4,220 Decreased By -102.1 (-2.36%)
BR30 14,376 Decreased By -657.6 (-4.37%)
KSE100 42,667 Decreased By -838.4 (-1.93%)
KSE30 16,213 Decreased By -325.9 (-1.97%)
Business & Finance

Jazz secures Rs50b credit facility from banking consortium led by HBL

  • 10-year facility to be used to finance ongoing 4G network rollouts and technology upgradation
24 Jun, 2021

Islamabad: Jazz has secured a Rs50-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, stated a press release.

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.

Jazz has over 69 million subscribers and more than 28 million 4G users nationwide. Over a period of two years, the company has invested $462 million on 4G infrastructure.

Meanwhile, HBL has grown its network to over 1,650 branches, serving over 23 million customers in 14 countries across the world.

“We continue to drive the digital Pakistan agenda by improving digital infrastructure, bridging the digital divide and focusing on financial inclusion, "said Gabor Kocsis, Chief Financial Officer, Jazz. "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."

Muhammad Aurangzeb, President & CEO at HBL, stated, “We are delighted to have led this landmark transaction in the telecom sector. For the bank, such transactions serve HBL’s strategic priority of supporting the promotion of digitalization across the country."

Comments

Comments are closed.