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 infrastruct
Jazz secures telecom sector s largest credit facility to support 4G network rollout
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ISLAMABAD: Pakistan Credit Rating Agency Limited has upgraded Jazz’s long-term rating to the highest credit quality of ‘AA’ with a stable outlook, says a press release.The rating.
Jazz’s long-term credit rating updated to ‘AA’ by PACRA
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ISLAMABAD, Pakistan: The Pakistan Credit Rating Agency Limited (PACRA) has upgraded Jazz’s long-term rating to the highest credit quality of ‘AA’ with a stable outlook.
The rating depicts the strong financial depth of the company in the industry.
This review was conducted by incorporating the company’s business profile and performance with the long-term rating dependent upon the leading market position, healthy revenue growth and profitability, and dynamic financial environment.
An upgrade to its credit rating allows Jazz far-reaching market access to meet the funding pertinent for technology upgrade and 4G network expansion. Moreover, it also reflects on its strong financial profile, liquidity and commitment towards the lending community.
Jazz’s Long-Term Credit Rating Updated to ‘AA’ by PACRA
The Pakistan Credit Rating Agency Limited (PACRA) has upgraded Jazz’s long-term rating to the highest credit quality of ‘AA’ with a stable outlook. The rating depicts the strong financial depth of the company in the industry.
This review was conducted by incorporating the company’s business profile and performance with the long-term rating dependent upon the leading market position, healthy revenue growth and profitability, and dynamic financial environment.
An upgrade to its credit rating allows Jazz far-reaching market access to meet the funding pertinent for technology upgrade and 4G network expansion. Moreover, it also reflects on its strong financial profile, liquidity and commitment towards the lending community.
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