U Mobile has secured RM4.3 billion in syndicated financing to fund its ongoing 5G expansion in Malaysia, marking one of the largest ringgit-denominated syndicated loans ever raised by an unlisted company. CIMB Investment Bank acted as the sole loan coordinator and joint mandated lead arranger, with CIMB Bank and CIMB Islamic Bank as financiers. Maybank Islamic, AmBank Islamic, and UOB Malaysia also served as joint mandated lead arrangers and financiers.
According to U Mobile, the financing will primarily support capital expenditure and working capital for its next-generation 5G rollout. The company aims to achieve 80% coverage of populated areas by the second half of 2026, with funds also channelling into strengthening its ULTRA5G experience nationwide. The operator began its 5G deployment in mid-2025 and says the new facility will accelerate its rollout pace while reinforcing its role in Malaysia’s broader digital economy targets.
U Mobile CEO Wong Heang Tuck said the scale of the financing reflects strong financial-sector confidence in the telco’s 5G strategy and long-term growth plans. He added that U Mobile is currently ahead of its network rollout milestones and expects to meet the 80% coverage target next year. Wong also highlighted that the network is being deployed with 5G-Advanced capabilities from day one, positioning it to serve enterprise and public-sector use cases that demand higher reliability and throughput.
Financial partners echoed the strategic significance of the project, noting its role in strengthening national connectivity and supporting sectors that stand to benefit from AI, automation, and digital transformation. CIMB, Maybank, AmBank, and UOB all emphasised that the financing aligns with their respective commitments to digital-economy development, infrastructure modernisation, and Shariah-compliant investment frameworks.
On a related note, Communications Minister Datuk Fahmi Fadzil yesterday outlined firm coverage targets for U Mobile’s second-generation 5G network. Beyond achieving 80% coverage of populated areas in its first year of operations, he expects the telco to reach 95% by year three. Fahmi also said that as of 31 October 2025, U Mobile has upgraded 2,976 sites, achieving 58.2% populated-area coverage, and has deployed in-building 5G infrastructure in 11 buildings.
(Source: U Mobile press release)
