Malaysia’s second 5G wholesale operator U Mobile announced on Friday it has signed a ten-year syndicated financing deal with four Malaysian banks worth MYR4.3 billion (just over US$1 billion) to fund the capex for its 5G network rollout.
Under the deal, CIMB Investment Bank served as sole loan coordinator and joint mandated lead arranger, with CIMB Bank and CIMB Islamic Bank as the financiers. The financing was arranged together with Maybank Islamic Bank, AmBank Islamic Bank Berhad, and UOB Malaysia, which served as joint mandated lead arrangers and financiers.
U Mobile said the funds from the deal will be used mainly to cover the capex costs of its ongoing next gen 5G network deployment, as well as provide the operator with working capital.
The funding will also accelerate the expansion of U Mobile’s own ULTRA5G service, which was launched in August this year.
U Mobile appointed CIMB Bank in June 2025 to facilitate and arrange financing of up to MYR4 billion (almost US$940 million) to support its 5G network infrastructure rollout.
U Mobile CEO Wong Heang Tuck said the financing deal indicated the confidence banks have in the telco’s ability to execute its 5G business plan and sustain its 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,” Wong said in a statement.
Wong added that U Mobile is ahead in terms of its network rollout targets and is fully confident that the company will achieve 80% coverage of populated areas by July 2026.
