U Mobile said the financing will mainly fund the mobile telecommunications provider’s capital expenditure and working capital for the rollout of U Mobile’s next gen 5G network deployment.

U Mobile CEO Wong Heang Tuck said its ability to secure the syndicated financing underscores the confidence leading banks have in its 5G business plan and long-term growth trajectory.

“Our 5G deployment across Malaysia started in the middle of 2025 and this new facility will further accelerate our rollout ambitions and reinforce our commitment to drive Malaysia’s digital economy,” he said in a statement.

Wong said U Mobile is ahead in terms of its network rollout targets and is confident that the company will achieve 80% of coverage of populated areas by the second half of next year.

The 10-year syndicated financing agreement was signed yesterday between U Mobile and CIMB Investment Bank Berhad, Maybank Islamic Bank Berhad, AmBank Islamic Bank Berhad, and UOB Malaysia.

This comes a month after U Mobile signed its first 5G and 4G wholesale access agreement with Eastel, a new mobile virtual network operator under Anchor Communications Sdn Bhd.