U Mobile Appoints CIMB As Loan Coordinator For RM4 Bln 5G Funding
KUALA LUMPUR, May 31 (Bernama) -- U Mobile has appointed CIMB as the company’s loan coordinator and mandated lead arranger to facilitate and arrange financing of up to RM4 billion to support the nationwide deployment of its cutting-edge 5G network infrastructure.
In a joint statement, U Mobile said the financing would fund its capital expenditure (capex) to accelerate the rollout of its Next Gen 5G network, which aims to achieve 80 per cent coverage of populated areas (COPA) by July 2026.
As part of the arrangement, CIMB intends to participate in the financing of at least RM1.5 billion, with the balance to be syndicated among other financial institutions.
“This milestone underscores U Mobile’s continued momentum as the nation’s newest 5G network provider, spurring digital connectivity and innovation, solidifying Malaysia’s digital ambitions,” the statement said.
-- BERNAMA