Ministry of Finance raises RON 1.44 billion from retail investors following a new FIDELIS government bond offer


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The Ministry of Finance (MF) listed on June 27, four new issues of FIDELIS government bonds totaling over RON 1.44 bn. The four issues are traded under the stock symbols R2306A, R2506A, R2306AE, R2406AE.

The debut of FIDELIS government bonds at the Bucharest Stock Exchange (BVB) comes after the successful conclusion of the public offer held between June 6 and June 21. In total, in the last two years, MF has attracted from the retail investors over RON 12.4 billion (EUR 2.5 billion).

The FIDELIS program is maintained in the individual investors’ preferences, who continue to trust the savings instruments offered by the Ministry of Finance’s government bonds programs launched through our partners. The appetite of individuals, especially in the general macroeconomic and geopolitical context, ensures both the constancy of the emissions calendar and the attraction of important resources on the domestic market for financing the Romanian state. We thank our investors and partners for their involvement in diversifying their savings and investment portfolios“, said Adrian Caciu, Minister of Finance.

The Romanian state is a strategic partner of the capital market and the use of the stock exchange mechanisms to ensure the necessary financing is a natural consequence of this partnership. The Bucharest Stock Exchange has repeatedly demonstrated that it is an efficient financing channel, that it has the capacity to contribute to the Romania’s economic development and supports the Romanian state in using stock exchange mechanisms to fully access the opportunities offered by the capital market. For Romanian investors, the recurrent FIDELIS issues have already established these securities as a benchmark in terms of diversification, being a saving tool for both available funds in RON and EUR. For many Romanians, investing in FIDELIS government bonds can be a first step in the investment world, especially in a period of upward trend in inflation.”, stated Radu Hanga, President of the Bucharest Stock Exchange.

Through the FIDELIS program, the Ministry of Finance offers Romanians access to a saving instrument because the government bonds have a low degree of risk and an attractive return, which makes them suitable, especially in a period of volatility, as we are now facing in the capital markets. The stock exchange’s purpose is to provide as many investment opportunities for as many types of investors as possible. Almost 90.000 investors are already present on the Romanian stock exchange, which shows us that Romanians are interested in the capital market and the opportunities it offers.”, highlighted Adrian Tanase, CEO of the Bucharest Stock Exchange.

The offer included government securities in RON with maturities of one year (annual interest 7.2%), respectively three years (7.8%) and two issues in EUR, maturing in 2023 (annual interest 1.4%) and 2024 (2.3%). The new FIDELIS government bonds start trading today at BVB. The intermediary syndicate of the offer includes BT Capital Partners (Lead Manager), Banca Transilvania (distribution group), BCR, BRD and Alpha Bank Romania.

The success of a new FIDELIS issue in the uncertain context of capital markets, the geopolitical status, and the economy shows us that the instrument is used both for investment or saving but also to protect the capital against inflationary pressures. We appreciate the investors’ confidence in this product; we are confident that it has contributed to establishing a solid foundation on which the activity of retail customers can continue to develop “, declared Daniela Secara, General Manager of BT Capital Partners.

„Fidelis bonds have already become a common and indispensable tool from the perspective of optimizing the portfolio management decisions of the retail investors. The upward trend in inflation and interest rates is likely to increase individuals’ interest in subscribing on the primary market and to promote higher liquidity in the secondary market. Such an evolution is likely to increase the representativeness of Fidelis bonds on the Romanian financial market, as well as to consolidate their position within financing instruments used by the Romanian State”, said Irina Neacsu, Executive Director Corporate Finance BRD – Groupe Societe Generale.

“We are pleased to be able to support the four new Fidelis government bond issues listed by the Ministry of Finance, and thus contribute to increasing the number of retail investors in the capital market. Within our ongoing market education efforts, we constantly talk to clients about diversifying their savings and investment portfolios, including by subscribing to government bonds, as part of the intelligent financial choices they need to make in the long run. In addition, it is still a signal of confidence and development of the local capital market, in a period marked by international uncertainties“, said Valentin Popovici, Executive Director BCR Financial Markets.

The new issue of government bonds under the FIDELIS Program offered an attractive alternative for investors seeking refuge in the context of high volatility in financial markets and the inflationary environment,” said Nicoleta Ruxandescu, Director of the Investment and Capital Markets Unit, Alpha Bank Romania.

The income obtained through the investment in FIDELIS government bonds, both from interest and from capital gains, is non-taxable.

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