Fidelis EUR 6.25% 2036 (R3605AE) Bond — Price, Coupon & Yield

What R3605AE is

Fidelis EUR 6.25% 2036 (R3605AE) is a Romanian government bond issued by the Ministerul Finantelor and listed on the Bucharest Stock Exchange (BVB). It belongs to the Fidelis retail series and is denominated in EUR, making it one of the few local government bonds that investors can hold in a single-currency euro exposure alongside Romanian Leu alternatives such as Fidelis RON 7.5% 2036 (R3609A) or Fidelis RON 7.5% 2032 (R3205A). The bond pays a fixed coupon and has a defined maturity date, which makes its cash flows relatively predictable compared with equities.

Key numbers explained

• Price: 98.53% — the bond trades slightly below par, meaning you pay less than the nominal value for each unit of 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 if bought at the current price: 6.45% — this yield to maturity reflects the total return you would earn if you hold the bond to maturity and reinvest coupons at the same rate, adjusted for the purchase price.
• Maturity: May 20, 2036 — the date when the issuer repays the nominal value and the bond ceases to exist.
• Years to maturity: 9.7 — the remaining time until maturity, which influences the bond's sensitivity to interest-rate changes.
• Price change today: +0.01% — the intraday move in the bond's quoted price.

What to watch

Bond prices generally move inversely to interest rates, so shifts in the ECB or local monetary policy can affect R3605AE's market value. Credit developments related to the Romanian sovereign, liquidity conditions on the Bucharest Stock Exchange (BVB), and the EUR exchange rate versus the Romanian Leu are also relevant factors. Investors often compare this issue with peers such as Fidelis EUR 6.2% 2036 (R3607AE) to understand relative pricing within the same issuer's retail series.