YEREVAN, February 8. /ARKA/. Unibank has announced today the issue of coupon bonds in Armenian drams and US dollars with annual yields of 10.5% and 5.3% respectively.
According to the press service of the bank, the AMD-denominated bonds are worth one billion drams and USD-denominated bonds are worth $5 million. The circulation period of AMD bonds is 27 months, and that of USD bonds is 36 months. Coupon income will be paid quarterly.
Unibank bonds can be purchased at the bank’s head office or at any of its 53 branches. These are the 13th and 14th issues of bonds by Unibank.
The placement of the issue is expected to be completed by March 25, 2021, after which the bonds will be listed on the AMX Armenia Securities Exchange.
“The secondary listing of the bonds will be carried out on the Moscow Stock Exchange, making them available also for Russian investors, who will not have to open accounts in Armenia,” the bank said.
Unibank said the main advantages of the bonds are the guaranteed high income and security.
According to the Armenian law on Guaranteeing Compensation of Bank Deposits of Individuals, funds attracted by nominal bonds issued by the bank are considered deposits insured by the Deposit Compensation Fund.
At the same time, the bank recalled that from December 1, 2020, the threshold of guaranteed individual deposits have been increased to 16 million drams for deposits in the national currency and to the equivalent of 7 million drams for deposits in foreign currencies.
“Another potential advantage is that income from bonds listed on the Armenian Securities Exchange with a maturity of two years or more is tax-free,” the bank said in the press release.
The prospectus of the bonds was registered by the decision of the Chairman of the Central Bank of the Republic of Armenia dated January 22, 2021. Additions and final terms of the issue are published at www.unibank.am.
Unibank cooperates with leading world banks and provides SWIFT money transfers to all countries. The bank’s correspondent network includes Austrian Raiffaisen Bank, German Landesbank BadenWuerttemberg, Italian Banca Popolare di Sondri, Georgian Bank of Georgia, Russian Alfa Bank and VTB Bank, and many other banks.
Unibank is one of the leaders in the retail banking market in Armenia. The Bank is constantly expanding its service network in order to provide quality services to a large number of clients. Unibank is the first bank in Armenia that conducted a placement of shares through an initial public offering (IPO) and had them listed on the securities exchange. ($1 – 521.8 drams). –0—
