Armenia Stock Exchange to list AMD 3 billion of Unibank and AMD 13 billion of Fast Bank bonds

The Armenia Stock Exchange (AMX) will list AMD 16 billion (about $44.4 million) of bonds from two banks: Unibank’s perpetual bonds with a 13.2% coupon start trading on November 12, and Fast Bank’s two-year bonds at 10.25% on November 13. Both issues join the secondary bond list (Bbond) and are cleared for manual trading and repo transactions.

The listing decisions were made by the AMX CEO: No. ՑՊ-105-11/26 of November 9 (Unibank) and No. ՑՊ-106-11/26 of November 10 (Fast Bank).

Unibank: AMD 3 billion of perpetual bonds

Unibank OJSC placed 300 thousand perpetual coupon bonds with a face value of AMD 10,000, for a total of AMD 3 billion. The placement took place on October 7–8, 2026. The bonds have no maturity date.

• Coupon: hybrid. Fixed at 13.2% a year for the first 36 months, then floating.
• Payments: quarterly, on January 7, April 7, July 7 and October 7. The first payment is due on January 7, 2027.
• ISIN: AMUNIBBM6ER8, ticker: UNIBBM6.
• Trading starts: November 12, 2026.

On the same day, AMX announced that Sirius Capital CJSC will stop acting as market maker for another Unibank bond (ISIN AMUNIBB2UER0) from December 10, 2026, as its contract with the issuer has been terminated.

Fast Bank: AMD 13 billion of two-year bonds

Fast Bank CJSC placed 130 thousand coupon bonds with a face value of AMD 100 thousand, for a total of AMD 13 billion. The issue is dated August 10, 2026, and the placement ran until October 14.

• Coupon: 10.25% a year, four payments: February 10, 2027, August 10, 2027, February 10, 2028 and August 10, 2028.
• Term: 24 months, maturing on August 10, 2028.
• ISIN: AMFSCRB2SER6, ticker: FSCRBS.
• Trading starts: November 13, 2026.

What it means for investors

Once exchange trading starts, the bonds can be bought and sold through any exchange member, not only from the issuing bank. Repo transactions allow investors to raise short-term funding against these securities.

Unibank’s perpetual bonds offer a high fixed coupon for three years. However, they have no maturity date, and after 36 months the rate becomes floating, so returns depend on market rates. Fast Bank’s bonds are a standard two-year instrument with a fixed rate and a known maturity date.

For comparison, the Central Bank of Armenia’s refinancing rate is currently 7%.

In addition, on November 10 AMX received a document on material facts covering six issues (NMCCBP, NMCCBQ, NMCCBR, NMCCBS, NMCCBT, NMCCBU) from National Mortgage Company, a refinancing credit organisation. The document is published on the issuer’s page on the exchange website.

Sources: AMX: news (Unibank listing, Fast Bank listing, National Mortgage Company, Sirius Capital)