Fourth Fidelis Government Bonds of 2025 Debut on BVB

The Ministry of Finance (MF) attracted RON 620.4mn and EUR 112.2mn (values totaling almost RON 1.2bn – EUR 237mn), through the fourth primary offer for the sale of government bonds for the retail investors (FIDELIS) held this year through Bucharest Stock Exchange’s (BVB) systems.

‘In a volatile market context amplified by developments on the economic and political stage, the Fidelis program continues to represent a benchmark of stability for the investment of the population’s financial resources. The subscribed volume of approximatively 1.2 billion lei equivalent is similar to that obtained in the previous issue (with 1.3 billion lei equivalent), through a number of over 12,600 subscription orders, reconfirms the trust of Romanians in this program and implicitly in the Romanian state’, stated Tanczos Barna, Vice Prime Minister, Minister of Finance.

‘The Fidelis program has become an important pillar of the Romanian capital market, strengthening the partnership between investors, the State and the Stock Exchange, even in times marked by uncertainty among investors. Through the 24 editions listed so far, the Fidelis government securities have demonstrated that they can consistently attract the interest of the population, offering a valuable combination of safety, liquidity and tax benefits. The fact that these instruments are guaranteed by the State and tax-except for individuals makes them an efficient solution for saving and investing, especially in an economic context marked by uncertainties. We are happy to see how the Fidelis program constantly includes components with social impact, such as the tranche dedicated to blood donors. We congratulate the Ministry of Finance, the Intermediation Consortium and the partner Rock FM for their contribution to the success of this program and for promoting an active financial culture among Romanians’, said Radu Hanga, Bucharest Stock Exchange President.

‘The listing of the new issue of Fidelis government bonds reconfirms the essential role of the capital market in supporting the State’s financing efforts and in promoting responsible investments. Fidelis is more than a program to attract savings from the population, it is a benchmark of transparency, efficiency and stability for the entire financial ecosystem. These issues contribute to setting important benchmarks for future issuers of corporate or municipal bonds and provide a reference framework for companies considering listing on the stock exchange. We are pleased that the Ministry of Finance continues to capitalize on the Stock Exchange’s platform to build a direct relationship with investors and to constantly support the development of the capital market in Romania. The Fidelis program remains an example of good practice in terms of access to capital and the involvement of individual investors in the economy’, stated Adrian Tanase, Bucharest Stock Exchange CEO.

The primary offer for sale of Fidelis government bonds was carried out by the syndicate formed by BT Capital Partners (Lead Manager), Alpha Bank Romania, Banca Comerciala Romana, BRD – Groupe Societe Generale and TradeVille (Intermediaries) and Banca Transilvania, Libra Internet Bank (Distribution Group).

‘The increasing volatility on the Bucharest stock market and, in general, on the local financial market, favors larger transaction volumes in the secondary market for Fidelis government bonds, which have already become a very important tool for retail investors in terms of optimizing portfolio management decisions. Furthermore, Fidelis T-bonds for public hold an increasingly significant share in the financing structure of the Ministry of Finance, representing, in fact, the first step in the area of personal investments for a growing number of Romanians who have saved so far exclusively through bank deposits’, said Irina Neacsu, Executive Director of Corporate Finance BRD – Groupe Societe Generale.

During this offer, which took place between May 9^th and 16^th, Romanians placed over 12,600 subscription orders, for both RON denominated and EUR denominated government bonds.