Fidelis RON 7.6% 2036 (R3606A) Bond — Price, Coupon & Yield

What R3606A is

Fidelis RON 7.6% 2036 (R3606A) is a Romanian government bond issued by the Ministerul Finantelor and listed on the Bucharest Stock Exchange (BVB). It is a retail Fidelis issue, meaning it is part of a series designed for individual investors, and it trades in Romanian lei (RON). The bond is denominated and pays its coupon in RON, so its total return is driven by the coupon, the price at which it is bought or sold, and the evolution of the RON. It belongs to the Government (Fidelis) sector and is part of the broader Bonds directory, where investors can compare it with other listed issues.

Key numbers explained

• Price: 99.8% — The bond is trading at 99.8% of its face value, which means it is priced just below par. For a bond, the quoted price is typically shown as a percentage of the nominal amount you would receive at maturity.
• Coupon: 7.6% — This is the annual interest rate paid by the issuer, expressed as a percentage of the bond's face value. It is fixed for the life of the bond.
• Estimated yield to maturity: 7.63% — Yield to maturity is the total annualised return an investor would earn if the bond is held to maturity, assuming all coupons are reinvested at the same rate and the issuer does not default. Because the price is slightly below par, the yield is marginally higher than the coupon.
• Maturity: Jun 25, 2036 — The date on which the issuer repays the face value and the bond ceases to exist.
• Years to maturity: 9.8 — The approximate time remaining until the maturity date, which affects the bond's sensitivity to interest-rate changes.
• Price change today: 0% — The bond's price has not moved today, indicating no intraday price fluctuation in the data provided.

What to watch

• Interest rates: Bond prices generally move inversely to changes in market interest rates. If rates rise, existing bonds with lower coupons may fall in price, and vice versa.
• Issuer credit quality: As a government bond, R3606A is backed by the Romanian state, but changes in fiscal policy or sovereign credit ratings can influence investor perception.
• Currency exposure: Because the bond is denominated in RON, movements in the RON against other currencies can affect the return for investors holding it in a different currency.
• Liquidity and trading volume: The ease with which the bond can be bought or sold on the BVB can vary, and lower liquidity may result in wider bid–ask spreads.
• Comparable issues: Investors often look at peers such as Fidelis EUR 4% 2029 (R2908CE) or Fidelis EUR 5.8% 2036 (R3606AE) to contextualise the RON-denominated return and maturity profile of R3606A.