YEREVAN, April 13. /ARKA/. Unibank has announced today the beginning of issuance of USD-denominated nominal coupon bonds with the annual yield of 8%.

The Yerevan-based bank said in a press release that it is going to issue a total of 50,000 bonds worth USD5 million. The face value of a bond is USD100.

The maturity term is 24 months with coupon profit payments to be made quarterly. The redemption of the bonds will be made on April 8, 2018.

The prospectus, which contains detailed information about the financial standing of the bank and key information about the bond issue, was placed on the official website of Unibank on April 4, l 2016 at www.unibank.am).

According to the press release, the bonds can be acquired at any of Unibank’s 45 branches or the head office.

The placement is scheduled for April 8 to June 14, 2016.

The minimum package includes 10 bonds worth $1,000. After the placement the bonds are expected to be listed at NASDAQ OMX Armenia stock exchange.

"Taking into account the interest of the public in Unibank’s bonds, it was decided to issue coupon bonds as a new, profitable investment instrument. According to the Armenian law on insurance of private bank deposits, the funds raised as bonds, as well as bank deposits are guaranteed by the Deposit Insurance Fund in the amounts stipulated by the law," the bank said.

The prospectus was registered with the Central Bank of Armenia on April 2, 2016 and entered into force on April 3, 2016.

Unibank was the first Armenian bank to place ordinary nominal shares (UNIB) through an IPO at NASDAQ OMX Armenia stock exchange in 2015 December.

Unibank was founded in October 2001. In 2002 it introduced Unistream system. Its only shareholder is Glover Holding LTD. In 2015 the Bank was reorganized into an open joint stock company. Today

Unibank runs 45 branches providing services to over 300,000 customers.

The bank’s assets in 2015 stood at 158.5 billion drams; the liabilities – at 135.6 billion drams; the capital was worth 22.8 billion drams. Its credit investments stood at 110. 1 billion drams. In 2015 Unibank earned 493.2 million drams in net profit. ($1 – 483.68 drams). -0-