Fidelis EUR 3.85% 2027 (R2705AE) Bond — Price, Coupon & Yield

What R2705AE is

Fidelis EUR 3.85% 2027 (R2705AE) is a Romanian government bond issued by the Ministerul Finantelor and listed on the Bucharest Stock Exchange (BVB). It is a retail-oriented Fidelis issue, meaning it is part of a series designed for individual investors. The bond pays a fixed 3.85% coupon in EUR and matures on May 21, 2027, with 0.7 years remaining to maturity. It is denominated in euros, so its price and yield are expressed in that currency.

Key numbers explained

• Price: 100.12% — the bond trades just above par, meaning you pay slightly more than the nominal value for each unit of face value.
• Coupon: 3.85% — the annual interest rate paid by the issuer, expressed as a percentage of the nominal value.
• Estimated yield to maturity if bought at the current price: 3.66% — the yield to maturity reflects the total return you would earn if you hold the bond to maturity and reinvest coupons at the same rate, assuming no default.
• Maturity: May 21, 2027 — the date when the issuer repays the nominal value and the final coupon.
• Years to maturity: 0.7 — a short remaining horizon, which typically means the bond's price is less sensitive to interest-rate changes than longer-dated bonds.
• Price change today: +0.12% — the intraday move in the bond's quoted price.

What to watch

• Interest-rate movements in the euro area, which affect the relative attractiveness of fixed coupon payments.
• Romanian government fiscal and debt-management decisions, which can influence the pricing of new issues and the secondary market.
• The spread between this bond's yield and other euro-denominated government or retail bonds, such as Fidelis EUR 6.25% 2032 (R3205AE) or Fidelis EUR 3.9% 2028 (R2811AE), which can signal shifts in perceived credit or liquidity conditions.
• Currency considerations, since the bond is in EUR but the issuer is the Romanian state; changes in the EUR/RON exchange rate can affect the real return for investors holding other currencies.