KUALA LUMPUR: U Mobile has appointed CIMB as its loan coordinator and mandated lead arranger, securing up to RM4 billion in financing to support the nationwide deployment of its Next Gen 5G network infrastructure.

In a joint statement, U Mobile said the funding would accelerate its capital expenditure (capex), aiming to achieve 80 per cent coverage of populated areas (COPA) by July 2026.

As part of the arrangement, CIMB will contribute at least RM1.5 billion, with the remaining amount 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