Fidelis RON 6.35% 2028 (R2806A) Bond — Price, Coupon & Yield

What R2806A is

Fidelis RON 6.35% 2028 (R2806A) is a Romanian government bond issued by the Ministerul Finantelor and listed on the Bucharest Stock Exchange (BVB). It belongs to the Fidelis retail bond series and is denominated in RON. The bond pays a fixed 6.35% coupon and matures on Jun 25, 2028, with 1.8 years remaining to maturity. It is part of the same Fidelis family as Fidelis RON 6.85% 2027 (R2704A), Fidelis RON 7.4% 2028 (R2805A), and Fidelis RON 6.95% 2027 (R2711A), which investors often compare when building a ladder of short-dated government paper.

Key numbers explained

• Price: 98.75% — the bond trades at a small discount to its face value, meaning you pay slightly less than the amount you will receive at maturity.
• Coupon: 6.35% — the annual interest rate paid by the issuer, expressed as a percentage of the nominal (face) value.
• Estimated yield to maturity: 7.11% — the yield to maturity is the total return you would earn if you bought the bond today at 98.75%, held it to maturity, and reinvested all coupons at the same rate; it is higher than the coupon because of the discount.
• Years to maturity: 1.8 — the time left until the principal is repaid, which makes this a short-dated bond with relatively low interest-rate sensitivity.
• Price change today: +0.6% — the intraday move in the bond's quoted price, showing modest positive trading activity on the session.
• Bond currency: RON — all cash flows (coupon and principal) are in Romanian lei, so currency risk is limited to RON against the investor's home currency.

What to watch

• Interest rates — when benchmark rates rise, existing bond prices typically fall, and vice versa; the short 1.8-year horizon limits this effect.
• Issuer credit — as a government-issued instrument, the bond's safety depends on the fiscal position and policy of the Ministerul Finantelor.
• Liquidity — trading volume on the BVB can vary, which may affect how easily the bond can be bought or sold near the quoted 98.75% price.
• Reinvestment risk — the 6.35% coupons must be reinvested at prevailing rates; if rates fall, future reinvestment income could decline.
• Peer comparison — investors often look at Fidelis RON 6.55% 2027 (R2712A) and Fidelis EUR 6.3% 2036 (R3608AE) to see how the coupon and maturity profile compare across currencies and vintages.