KARACHI: Jazz has secured a Rs50 billion syndicated 10-year credit facility from a banking consortium led by Habib Bank Ltd (HBL) which would be used to finance the company’s ongoing 4G network roll outs 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 advisers on this deal include:

United Bank Ltd, National Bank of Pakistan, MCB Bank, Bank Alfalah, Allied Bank Ltd, Askari Bank Ltd, Bank of Punjab, Meezan Bank Ltd and Faysal Bank Ltd.

Published in Dawn, June 24th, 2021