Fidelis RON 7.4% 2028 (R2805A) Bond — Price, Coupon & Yield

What R2805A is

Fidelis RON 7.4% 2028 (R2805A) is a Romanian government bond issued by the Romanian Ministry of Finance (Ministerul Finantelor) and listed on the Bucharest Stock Exchange (BVB). It belongs to the Fidelis retail series and is denominated in RON. The bond pays a fixed coupon of 7.4% and matures on May 21, 2028, with 1.7 years remaining until maturity. It is part of the broader Fidelis family of retail bonds, which also includes issues such as Fidelis RON 7.5% 2028 (R2803A) and Fidelis RON 7.9% 2031 (R3109A).

Key numbers explained

• Price: 99.85% — the bond trades just below par, meaning you pay slightly less than the nominal value for each unit of face value.
• Coupon: 7.4% — the annual interest rate paid by the issuer, expressed as a percentage of the nominal value.
• Estimated yield to maturity: 7.5% — the yield to maturity is the total return you would earn if you bought the bond today at 99.85%, held it to maturity, and reinvested all coupons at the same rate.
• Years to maturity: 1.7 — the approximate time left until the issuer repays the nominal value at the maturity date.
• Price change today: -0.55% — the bond’s price moved down by 0.55% on the current trading session.
• Issuer: Ministerul Finantelor — the Romanian Ministry of Finance acts as the borrower and backer of the bond.

What to watch

• Interest rate movements — bond prices and yields move inversely; when market rates rise, existing bond prices tend to fall, and vice versa.
• Romanian fiscal and monetary policy — decisions by the Ministry of Finance and the National Bank of Romania can influence the demand and pricing of government paper such as R2805A.
• Liquidity and trading volume — as a retail-oriented issue, the bond’s ease of buying or selling in the secondary market can vary.
• Credit perception of the Romanian sovereign — changes in the country’s credit outlook can affect the risk premium demanded by investors.
• Comparison with peers — investors often look at other Fidelis retail bonds, such as Fidelis RON 7.5% 2032 (R3205A) or Fidelis RON 7.95% 2030 (R3002A), to contextualise the yield and term profile of R2805A.