U Mobile has turned to CIMB to help facilitate a loan of RM 4 billion ($940 million) for the deployment of its 5G network in Malaysia.

Malaysian bank CIMB will help to secure the financing for U Mobile, which is looking to build the nation's second 5G mobile network.

In an announcement, U Mobile noted that the financing will provide it with capital to accelerate the rollout of the network, which it aims to cover 80 percent of the country's population by July 2026.

As part of the arrangement with CIMB, the bank will provide at least RM1.5bn ($352.5m) to U Mobile, with the rest to be syndicated among other financial institutions.

“Partnering with a strong financial institution like CIMB demonstrates our ability in executing our capex program efficiently," said Wong Heang Tuck, U Mobile CEO.

"Their confidence in our financial discipline and growth trajectory reinforces our ability to deliver an enterprise-grade 5G network that is fast, scalable, and impactful for both businesses and consumers."

U Mobile is looking to build Malaysia's second 5G network, rivalling the Digital Nasional Berhad (DNB), a shared network built under the country's previous government in which U Mobile was previously a partner.

Earlier this year, U Mobile chairman Tan Sri Vincent Tan Chee Yioun outlined plans to complete the 5G network rollout by mid-2026. He noted at the time that the company would not need any additional backing from the government or new partners.

Last month, U Mobile divested its 100,000 shares in DNB for RM 100,000 (US$23,113) to fellow shareholders CelcomDigi, Maxis, YTL, and the Ministry of Finance (MOF).

Just last week, the carrier tapped Telekom Malaysia (TM) as a fiber backhaul partner for the deployment of its 5G mobile network. TM was also previously a stakeholder in DNB, but saw its equity cut last year.

U Mobile has selected Chinese vendors Huawei and ZTE as network technology partners for its 5G network, a stark contrast to DNB, which opted for Ericsson. The company also picked EdgePoint Infrastructure as its preferred 5G infrastructure partner in April.