Largest Private Sector Syndicated Credit Facility in Pakistan’s History
Karachi, Pakistan – In a landmark deal, Jazz has secured a massive Rs75 billion credit facility to enhance its 4G network and promote digital inclusion across the country. This syndicated credit facility, spanning 10 years, is the largest in the private sector in Pakistan’s history.
BoP Leads Consortium of Banks
The Bank of Punjab (BoP) led the consortium of banks that provided the financing, which includes Habib Bank Limited, Bank Alfalah Limited, Meezan Bank Limited, MCB Bank Limited, Allied Bank Limited, Askari Bank Limited, Habib Metropolitan Bank, Soneri Bank Limited, Bank Islami Pakistan Limited, and MCB Islamic Bank Limited.
Boost to Digital Inclusion
The credit facility will significantly support Jazz’s efforts to expand its 4G network, upgrade technology, and implement its new ServiceCo model, promoting digital inclusion and enhancing the country’s telecommunications infrastructure.
Signing Ceremony
The signing ceremony took place on Friday at a hotel in Karachi, attended by prominent figures, including Kaan Terzioğlu, CEO of VEON Group, Aamir Ibrahim, CEO of Jazz, Farid Ahmad Khan, Group Chief Corporate & Investment Banking, and the presidents of participating banks.