Fidelis EUR 6.25% 2032 (R3202AE) Bond — Price, Coupon & Yield

What R3202AE is

Fidelis EUR 6.25% 2032 (R3202AE) is a Romanian government bond issued by Ministerul Finantelor under the Fidelis retail programme. It trades on the Bucharest Stock Exchange (BVB) and is denominated in EUR. The bond pays a fixed 6.25% coupon and matures on Feb 19, 2032, with 5.4 years remaining to maturity. It is part of the broader Fidelis family of retail bonds, which includes peers such as Fidelis EUR 5.3% 2028 (R2810AE) and Fidelis EUR 5% 2029 (R2910AE).

Key numbers explained

• Price: 99.9% — the bond is trading just below par (100), meaning it is priced at a small discount relative to its face value.
• Coupon: 6.25% — the annual interest rate paid by the issuer, expressed as a percentage of the nominal value.
• Estimated yield to maturity: 6.27% — the yield to maturity is the total return an investor would earn if the bond is held to maturity, assuming all coupons are reinvested at the same rate; at the current price, it is slightly above the coupon because the bond is bought at a discount.
• Maturity: Feb 19, 2032 — the date when the issuer repays the nominal value and the final coupon is paid.
• Years to maturity: 5.4 — the time remaining until maturity, which affects the bond's sensitivity to interest-rate changes.
• Price change today: -0.02% — the intraday move in the bond's quoted price.

What to watch

• Interest-rate movements in the Eurozone can affect the bond's price, as longer-dated fixed-coupon bonds are generally more sensitive to rate changes.
• Credit developments related to the Romanian sovereign, since the bond is an unguaranteed government obligation.
• FX considerations for investors holding the bond in a non-EUR currency, given that the coupon and principal are in EUR.
• Liquidity conditions on the Bucharest Stock Exchange (BVB), which can affect bid-ask spreads and execution costs.
• The broader Fidelis retail bond suite, including Fidelis EUR 4.75% 2030 (R3012AE), which may offer alternative points on the maturity and yield curve.