Fidelis EUR 6.25% 2032 (R3205AE) Bond — Price, Coupon & Yield

What R3205AE is

Fidelis EUR 6.25% 2032 (R3205AE) is a Romanian government bond issued by the Romanian Ministry of Finance (Ministerul Finantelor) and listed on the Bucharest Stock Exchange (BVB). It is a retail Fidelis issue denominated in EUR, with a fixed coupon of 6.25% and maturity on May 21, 2032, leaving 5.7 years to maturity. The bond is part of the broader Fidelis retail bond series, which includes peers such as Fidelis EUR 3.9% 2028 (R2811AE), Fidelis EUR 4.5% 2031 (R3102AE), and Fidelis RON 7.7% 2029 (R2907A).

Key numbers explained

• Price: 100% — the bond trades at par, meaning its market price equals its nominal (face) value; the investor pays 100 units of nominal value per 100 units traded.
• Coupon: 6.25% — the annual interest rate paid by the issuer, expressed as a percentage of nominal value, paid on each coupon date until maturity.
• Estimated yield to maturity if bought at the current price: 6.25% — the yield to maturity is the total annualised return an investor would earn if the bond is bought at the current price and held to maturity, assuming all coupons are reinvested at the same rate; here it equals the coupon because the price is at par.
• Price change today: -0.21% — the bond's market price has moved -0.21% relative to the previous close, reflecting intraday supply and demand on the BVB.
• Years to maturity: 5.7 — the time remaining until the issuer repays the nominal value on 21 mai 2032, a key driver of the bond's interest-rate sensitivity.
• Bond type: Romanian government bond (Fidelis retail issue) — a sovereign debt instrument designed for retail investors, typically with lower liquidity and different tax treatment compared to corporate bonds.

What to watch

• Interest-rate movements: rising rates generally push bond prices down, affecting the -0.21% daily move and the bond's market value.
• Romanian fiscal policy and credit outlook: changes in the issuer's perceived creditworthiness can widen or narrow yield spreads relative to peers like Fidelis RON 7.7% 2029 (R2907A).
• EUR/USD and EUR/RON exchange rates, since the bond is denominated in EUR but issued by a Romanian entity.
• Liquidity and trading volume on the BVB, which can affect execution costs for retail investors.
• Coupon reinvestment risk: the actual return depends on the rates at which interim coupon payments are reinvested.