DNB closes MYR5.2bn Islamic financing as MOF Inc prepares to exit

Details: Manny Pham; Category: Operators; 19 October 2026; 492 views

Digital Nasional Berhad (DNB) has completed a MYR5.2 billion (US$1.3 billion) Syndicated Islamic Term Financing, which it described as one of the largest syndicated loan facilities ever arranged for an unlisted company in Malaysia.

Maybank Investment Bank acted as mandated lead arranger, bookrunner and coordinating arranger. AmInvestment Bank, CIMB Islamic Bank, RHB Islamic Bank and United Overseas Bank (Malaysia) served as joint mandated lead arrangers, with AmInvestment Bank also acting as financial adviser to DNB.

The financing includes the refinancing of DNB’s Government Guarantee Revolving Credit Facility, which expired on 29 September 2026. DNB said the new structure provides sustainable long-term funding for future growth.

The deal also paves the way for the planned exit of MOF Inc. as an ordinary shareholder, expected in early Q4 2026. DNB will then move to equal ownership among its three mobile network operator shareholders: CelcomDigi, through Infranation; Maxis, through Maxis Broadband; and YTL Power International. MOF Inc. will retain a special share to safeguard national interests and keep stewardship of key strategic matters.

The financing coincides with a spectrum milestone. DNB has been awarded the full 100MHz of the 3.3-3.4GHz (F0) band, and its entire 240MHz holding has been converted to a spectrum assignment issued by the Malaysian Communications and Multimedia Commission (MCMC). The assignment took effect on 1 October 2026, which DNB said provides greater regulatory certainty.

The operator said the 240MHz block will improve network capacity, efficiency and performance, and support technologies including Massive MIMO, carrier aggregation, 5G Advanced and AI-driven network capabilities.

DNB CEO Datuk Azman Ismail said the financing “provides DNB with a sustainable platform to operate on its own” and allows it to keep investing in network enhancement and capacity expansion.

He added that, as Malaysia progresses under its dual network framework, DNB is positioned to support the government’s AI Nation aspirations.