Fidelis EUR 6.4% 2036 (R3604AE) Bond — Price, Coupon & Yield

What R3604AE is

Fidelis EUR 6.4% 2036 (R3604AE) is a Romanian government bond issued by the Ministerul Finantelor and listed on the Bucharest Stock Exchange (BVB). It is a retail-oriented Fidelis issue, meaning it is part of a series designed for individual investors. The bond pays a fixed 6.4% coupon in EUR and matures on Apr 24, 2036, with 9.6 years remaining until maturity. At the current price of 100%, its estimated yield to maturity is 6.4%.

Key numbers explained

• Price: 100% — the bond trades at par, meaning its market price equals its face value; there is no premium or discount.
• Coupon: 6.4% — the annual interest rate paid by the issuer, expressed as a percentage of the bond's face value.
• Estimated yield to maturity: 6.4% — the yield to maturity is the total return an investor would earn if the bond is held to maturity and all coupons are reinvested at the same rate; here it matches the coupon because the price is at par.
• Maturity: Apr 24, 2036 — the date when the issuer repays the final coupon and the principal (face value) to the bondholder.
• Years to maturity: 9.6 — the time remaining until the maturity date, which affects the bond's sensitivity to interest-rate changes.
• Price change today: -0.08% — the intraday move relative to the previous close, indicating a slight decline in market price.
• Bond currency: EUR — all cash flows (coupon payments and principal repayment) are denominated in euros.

What to watch

• Interest-rate movements: bond prices generally move inversely to interest rates; as rates rise, existing fixed-coupon bonds like R3604AE may lose value.
• Issuer credit quality: changes in Romania's fiscal outlook or sovereign credit ratings can affect the bond's spread and price.
• Currency exposure: because the bond is denominated in EUR, investors are exposed to EUR/USD and EUR/RON exchange-rate fluctuations.
• Reinvestment risk: the fixed 6.4% coupon must be reinvested at prevailing rates; falling rates reduce future income.
• Liquidity: trading volume on the BVB can affect how easily the bond is bought or sold near the quoted price.
• Peer Fidelis bonds: investors often compare R3604AE with other Fidelis retail issues such as Fidelis EUR 5.3% 2028 (R2810AE) or Fidelis EUR 3.1% 2027 (R2708AE) to understand relative value across maturities and coupons.
• The full Bonds directory lists all available Fidelis issues for further comparison.