UBL Lends Rs. 25 Billion to Telenor Pakistan

United Bank Limited has extended a Rs. 25 billion bilateral financing facility to Telenor Pakistan, the telco’s first locally secured borrowing since it began operations in the country. The financing agreement was signed at Telenor’s Islamabad headquarters by the company’s Chief Financial Officer, Andreas Högberg, and UBL’s Group Executive for Corporate & Investment Banking, Nadia Tabassum. The facility is aimed at supporting Telenor Pakistan’s local financing needs. Högberg thanked UBL for executing the transaction in record time. Tabassum said telecom infrastructure remains central to economic growth and social connectivity.