VEON’s Jazz Secures Pakistan’s Largest Long-Term Private Sector Syndicated Credit Facility of up to PKR 75 billion
22 Luglio 2024 - 8:15PM
Amsterdam and Karachi, 22 July
2024: VEON Ltd. (NASDAQ, Euronext Amsterdam: VEON), a
global digital operator that provides converged connectivity and
online services, announces that Jazz, its digital operator in
Pakistan, has secured the country’s largest long-term private
sector syndicated credit facility of up to PKR 75 billion (c. USD
270 million). This 10-year financing arrangement will power Jazz’s
growth ambitions as the country’s leading provider of 4G
connectivity and digital services to millions of consumers and
enterprises.
The banking consortium was led by The Bank of
Punjab, along with the following other prominent financial
institutions that act as mandated lead advisors and arrangers:
Habib Bank, Bank Alfalah, Meezan Bank, MCB Bank, Allied Bank,
Askari Bank, Habib Metropolitan Bank, Soneri Bank, Bank Islami
Pakistan and MCB Islamic Bank. The signing of the credit facility,
originally entered into in May 20241, was marked with a ceremony
held in Karachi in the presence of VEON Group CEO Kaan Terzioglu,
Jazz CEO Aamir Ibrahim, and the Presidents, Chairs and Chief
Executives of the participating banks.
"This credit facility will be a game-changer for
Pakistan's digital landscape helping us accelerate the deployment
of cutting-edge digital infrastructure, focusing on services that
Pakistan need to realize the potential of its young and dynamic
population and vibrant business landscape. I would like to thank
our distinguished partners in the banking consortium for seeing the
immense growth potential that Jazz’s value proposition entails for
Pakistan. I would also like to congratulate the Jazz team for the
successful delivery of services to millions of Pakistanis that has
fuelled the robust growth of our Pakistan operations. This
agreement is a further sign of the trust and the support that Jazz
enjoys as the leading digital growth engine of the country,” said
Kaan Terzioglu, Group CEO of VEON.
“This landmark syndicated credit facility will
help expand and enhance our digital infrastructure across Pakistan,
as we transition from a telco to a ServiceCo and invest in sunrise
industries like cloud, software, financial services in addition to
consumer connectivity. I would like to thank The Bank of Punjab and
our esteemed banking consortium partners for their unwavering
support and confidence in Jazz's vision. This financing arrangement
reaffirms our commitment to driving Pakistan's digital
transformation as our focus remains on delivering innovative
solutions that empower individuals and businesses, fostering
socio-economic growth," said Aamir Ibrahim, CEO of Jazz.
“Leading this landmark transaction in the
telecom sector exemplifies our strategic focus on digital
transformation in Pakistan. Our partnership with Jazz underscores
The Bank dedication to advancing technological progress and
supporting the growth of the telecom industry. This deal is a
testament to our commitment to driving innovation and fostering
economic development in the country,” said Zafar Masud, President
and CEO of The Bank of Punjab.
About VEONVEON is a digital
operator that provides converged connectivity and digital services
to nearly 160 million customers. Operating across six
countries that are home to more than 7% of the world’s population,
VEON is transforming lives through technology-driven services that
empower individuals and drive economic growth. Headquartered in
Amsterdam, VEON is listed on Nasdaq and Euronext. For more
information visit: https://www.veon.com.
About Jazz
Jazz is Pakistan’s leading digital operator with
over 71 million subscribers. Jazz offers the most extensive
portfolio of digital services including JazzCash, Pakistan’s
leading fintech; Garaj, the largest onshore cloud and cybersecurity
platform; and Tamasha, Pakistan’s largest homegrown OTT video
streaming and entertainment platform.
DisclaimerThis release contains
“forward-looking statements,” as the phrase is defined in Section
27A of the U.S. Securities Act of 1933, as amended, and Section 21E
of the U.S. Securities Exchange Act of 1934, as amended.
Forward-looking statements are not historical facts, and include
statements relating to, among other things, VEON’s digital,
commercial and investment plans. Forward-looking statements are
inherently subject to risks and uncertainties, many of which VEON
cannot predict with accuracy and some of which VEON might not even
anticipate. The forward-looking statements contained in this
release speak only as of the date of this release. VEON does not
undertake to publicly update, except as required by U.S. federal
securities laws, any forward-looking statement to reflect events or
circumstances after such dates or to reflect the occurrence of
unanticipated events. There can be no assurance that the
initiatives referred to above will be successful.
Contact Information Hande Asik Group
Director of Communications pr@veon.com
Julian TannerTUVA PartnersJulian.tanner@tuvapartners.com
1 PKR 65 billion of the facility was already secured in May 2024
as disclosed in the “Unaudited Interim Condensed Consolidated
Financial Statements VEON Ltd. as of and for the three-month period
ended March 31, 2024” available on www.veon.com
- VEON’s Jazz Secures Pakistan’s Largest Long-Term Private Sector
Syndicated Credit Facility of up to PKR 75 billion
Grafico Azioni VEON (NASDAQ:VEON)
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Da Ott 2024 a Nov 2024
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