KUALA LUMPUR (Oct 1): Digital Nasional Bhd (DNB) has completed a RM5.2 billion syndicated Islamic term financing exercise, which it said will strengthen its financial position and support its next phase of growth.
In a statement, DNB said the financing, the largest syndicated loan facility arranged for an unlisted company in Malaysia, includes the refinancing of its Government Guarantee Revolving Credit Facility (GGRCF), which expired on Sept 29, 2026, and provides longer-term funding.
The exercise comes as DNB prepares to transition from a government-backed structure to equal ownership among its three mobile network operator (MNO) shareholders — CelcomDigi Bhd (KL:CDB) through Infranation Sdn Bhd, Maxis Broadband Sdn Bhd and YTL Power International Bhd (KL:YTLPOWR) — expected in early fourth quarter of 2026.
Minister of Finance Inc will exit as an ordinary shareholder but retain a special share in DNB to safeguard national interests and oversee key strategic matters.
DNB said the financing was completed alongside the award of the full 100MHz of the 3.3GHz to 3.4GHz (F0) spectrum and the conversion of its entire 240MHz spectrum holding into a spectrum assignment.
The spectrum assignment takes effect from Oct 1, 2026, following its issuance by the Malaysian Communications and Multimedia Commission.
DNB said the spectrum assignment will increase network capacity, efficiency and performance, while supporting technologies such as massive MIMO, carrier aggregation, 5G Advanced and AI-driven network capabilities.
Chief executive officer Datuk Azman Ismail said in the statement the financing provides DNB with a sustainable platform to operate independently, continue investing in network enhancement and capacity expansion, and make use of its expanded spectrum assets.
DNB was established in March 2021 to accelerate Malaysia’s 5G roll-out and operate as the country’s sole wholesale 5G network provider.
In May 2023, the government announced a shift to a dual 5G network model. U Mobile Sdn Bhd was selected to develop Malaysia’s second 5G network in November 2024 and was subsequently offboarded from DNB’s network on June 30, 2026.
Maybank Investment Bank Bhd acted as mandated lead arranger, bookrunner and coordinating arranger, with AmInvestment Bank Bhd, CIMB Islamic Bank Bhd, RHB Islamic Bank Bhd and United Overseas Bank (Malaysia) Bhd as joint mandated lead arrangers for the financing.
AmInvestment Bank was the financial adviser to DNB.
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