Daily Times June 25, 2021 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, said a press release issued here on Thursday. 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. 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.