North Macedonia’s UNI Banka has been given the green light for the issuance of perpetual bonds in the amount of €1.35mn by the country’s Securities and Exchange Commission.
The perpetual bonds are offered at their nominal value, priced at €1,000 per bond. The capital raised from this issuance will serve as supplementary Tier 1 capital, bolstering the bank's financial foundation.
The funds will be allocated for general corporate purposes, particularly to support the bank's credit expansion, the Commission said on October 16.
The bonds possess several key characteristics: they are non-cumulative, non-convertible, transferable, subordinated, unsecured and carry a fixed interest rate. Importantly, they do not come with any form of guarantee, meaning they lack additional security from the bank or any affiliated parties.
Initially, the bonds will yield a fixed interest rate of 6% annually for the first five years from the date of issuance. Subsequently, the interest rate will increase by 2%, settling at 8% per annum.
Uni Banka is predominantly owned by two Bulgarian entrepreneurs, holding a collective ownership of 72.9%. Additionally, the bank has 333 smaller stakeholders who do not meet the qualification criteria for significant ownership.
The growth of green loans in North Macedonia’s commercial banks continued in the second quarter of 2024, with an annual increase of 14.9% or by MKD2.6bn (€42.3mn), the central bank said on August ... more
North Macedonia's largest bank, Komercijalna banka, announced on August 26 that it has published the takeover bid for local Stopanska banka Bitola. The offered price is set at MKD3,200 (€52) per ... more
North Macedonia’s largest bank, Komercijalna Banka, said on July 31 that its unconsolidated net profit in the first half of 2024 jumped by an annual 42% to MKD2.84bn (€46.2mn). Net ... more