JazzWorld has executed a Rs75 billion Interest Rate Swap (IRS) transaction with United Bank Limited (UBL), marking the largest interest rate swap ever completed in Pakistan.

The long-tenor hedging arrangement allows JazzWorld to manage its exposure to interest-rate volatility on PKR-denominated debt, improving cash-flow predictability and supporting long-term financial planning. The company stated that the IRS strengthens balance-sheet resilience and preserves financial flexibility for continued investment in digital infrastructure, network upgrades and capacity expansion.

The transaction also highlights the growing sophistication of Pakistan’s local financial markets, demonstrating the capability of domestic institutions to structure large-scale derivative products in local currency. UBL acted as the sole counterparty and structuring bank on the transaction.

Commenting on the development, Aamir Ibrahim, CEO of JazzWorld, said the deal reflects the company’s disciplined approach to risk management and long-term value creation. He added that hedging interest-rate exposure will enable JazzWorld to maintain investment momentum across digital connectivity and next-generation network infrastructure.

UBL President & CEO Muhammad Jawaid Iqbal noted that the landmark IRS transaction will help advance Pakistan’s interest rate swap and derivatives market, and signaled UBL’s intention to pursue further innovative, high-impact financial solutions. He expressed confidence that other institutions will follow with similar-scale derivative transactions.

JazzWorld remains one of Pakistan’s largest private-sector investors, with cumulative investments exceeding USD 10.9 billion over more than three decades.