PLUS Communication Sh.a and Raiffeisen Bank sign formally the first largest syndicated loan in Albanian market from the local banks

17.11.2010

Tirana, 17 November 2010 - Raiffeisen Bank and PLUS Communication announced today the signature of the largest syndicated loan for the Albanian business by local banks. Through this loan, PLUS Communication is getting 35 million Euros by 4 local banks in the Albania leaded by Raiffeisen Bank Group that alone has granted 25 million Euros.

“We are very happy, we are leading this syndication and above all, that the local market is supporting the 4th mobile company. The market is fully liberalized and more competition will bring more development. We welcome, as the largest bank in the country, every good initiative coming from good and serious investors like PLUS Communication. After all the negotiations I am happy to say that this is the first deal of such relevant amount, involving only local banks and local investors in an Albanian initiative of telecommunication”, said Christian Canacaris, CEO of Raiffeisen Bank in Albania.

Moni Bunchnik, CEO of PLUS said “We are proud to have gained the trust and cooperation of strong partners like Raiffeisen Bank, Tirana Bank, Intesa San Paolo Bank and Union Bank. For us the signature of this agreement is another enabler for the implementation of our business plan, on top of the high investment made already by the shareholders, aiming at becoming the preferred mobile operator. The loan will enable us to further deploy the coverage network and enhance our IT systems through the latest technology available worldwide”.  

PLUS Communication Sh.a, a consortium led by PTK of Kosovo and backed by well known Albanian investors fully committed in supporting this project, was officially granted the fourth 2G licence on 26 June 2009.

The company has developed the project for the construction and operation of its own mobile network, covering the whole territory of Albania with the PLUS signal. It includes deployment of more than 220 sites all around the country. So far the backbone sites, coverage sites in the main cities of the country and all systems are operational  while the company is continuously expanding the network making sure of having the best quality for the customers. 

A strong support has been added into the project by the Albanian investors in terms of client base, real estate facilities, and distribution channels. Raiffeisen Bank Albania has lead the syndication process in all aspects by investing 25 Million Euros, while other banks have joined this Syndication such as:

Raiffeisen Bank in Albania, part of Raiffeisen Bank International, is the largest bank in the country and occupies the number one position on all major key performance indicators. Its asset base is close to 2 billion euros and it has a network of 102 branches throughout the country. The loan portfolio has grown from zero in 2004 to outstanding of almost 700 million Euros. The Bank has a product range processes, systems and a branch infrastructure that compares favorably with 21st century European standards.