Unibank launches 9bn AMD ($24.5m) perpetual bond offering at 13.25% yield
What's the deal? Armenia-based UnibankDealroom has a profile for this one. Try Dealroom → has launched a 9,000,000,000 AMD ($24.5 million) perpetual bond offering with a 13.25% annual yield.
The post-IPO debt is open exclusively to the bank's shareholders. Investors can qualify by joining Unibank's ongoing 3,900,000,000 AMD ordinary share offering.
Why now? The issuance follows last year's placement of Armenia's first-ever perpetual bonds, which the bank says was successful.
Unibank reported a net profit of 9,800,000,000 AMD in 2025. Its dividends for 2024 nearly doubled year-on-year to 7,800,000,000 AMD, and its share price has risen 70% since its 2015 IPO.
"By becoming Unibank shareholders, investors gain exclusive access to perpetual bonds with a 13.25% annual yield, making them one of the most attractive offerings on the market," said Mesrop Hakobyan, chairman of the management board.
What could go wrong? Perpetual bonds carry no maturity date, leaving investors reliant on the issuer's long-term health and its discretion to keep paying.
Tying the bonds to a share purchase also narrows the pool of buyers. Still, MoodyDealroom has a profile for this one. Try Dealroom →'s affirmed Unibank's B1 deposit ratings with a stable outlook, citing improved asset quality and robust profitability.
The signal: Unibank was Armenia's first bank to list on the Armenia Securities ExchangeDealroom has a profile for this one. Try Dealroom → and the first to deploy an AI-driven credit scoring platform.
That system now processes around 600,000 unsecured loan applications a year. The bank serves roughly 30% of Armenia's banking population and ranks among its top five for POS lending.
The bet reflects a wider shift: lenders are leaning on AI for efficiency while courting investors with high-yield instruments in a tight capital market.
Read more: Zawya
Image credit: Generated with Gemini
