Fidelis EUR 4.5% 2031 (R3103AE) Bond — Price, Coupon & Yield

What R3103AE is

Fidelis EUR 4.5% 2031 (R3103AE) is a Romanian government bond issued by the Ministerul Finantelor and listed on the Bucharest Stock Exchange (BVB). It is a retail Fidelis issue denominated in EUR, which means it pays interest in euros rather than Romanian lei. The bond is part of the broader Fidelis family of retail government bonds, which also includes instruments such as Fidelis EUR 3.75% 2027 (R2703AE) and Fidelis EUR 4.1% 2027 (R2708be). As a government bond, it is generally considered lower risk than corporate bonds, though it is still subject to interest rate and currency movements.

Key numbers explained

• Price: 95.5% — the bond trades at 95.5% of its face value, meaning you pay less than the nominal amount to buy it.
• Coupon: 4.5% — the annual interest rate paid by the issuer, expressed as a percentage of the bond's face value.
• Estimated yield to maturity: 5.63% — the yield to maturity is the total return you would earn if you bought the bond today at 95.5% and held it to maturity, assuming all coupons are reinvested at the same rate.
• Maturity: Mar 18, 2031 — the date when the issuer repays the face value and the bond ceases to exist.
• Years to maturity: 4.5 — the remaining time until maturity, which affects how sensitive the price is to interest rate changes.
• Price change today: +0.59% — the bond's price has risen by 0.59% on the current trading day.

What to watch

• Interest rate movements in the euro area, which can push bond prices up or down.
• Romania's fiscal policy and credit outlook, as these influence government bond yields.
• EUR/RON exchange rate fluctuations, since the bond is denominated in EUR but trades on a Romanian exchange.
• General liquidity conditions on the Bucharest Stock Exchange (BVB), which can affect bid-ask spreads.
• Comparable Fidelis bonds such as Fidelis EUR 6.3% 2036 (R3608ae) and Fidelis EUR 6.25% 2036 (R3605ae) for context on longer-dated EUR-denominated issues.
• The full Bonds directory for an overview of available instruments.