Fidelis RON 7.5% 2036 (R3609A) Bond — Price, Coupon & Yield

What R3609A is

Fidelis RON 7.5% 2036 (R3609A) 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 RON, making it a core holding for investors seeking exposure to local-currency sovereign debt. Within the broader Fidelis lineup, it sits alongside peers such as Fidelis RON 6.3% 2028 (R2808A) and Fidelis RON 7.6% 2029 (R2909A), which offer different coupons and maturities for comparison.

Key numbers explained

• Price: 100.2% — the bond trades just above par, meaning you pay slightly more than the face value for each unit.
• Coupon: 7.5% — the annual interest rate paid by the issuer, expressed as a percentage of the nominal value.
• Estimated yield to maturity: 7.47% — the yield to maturity is the total return you would earn if you bought the bond today at 100.2% and held it to Sep 16, 2036, assuming all coupons are reinvested at the same rate.
• Maturity: Sep 16, 2036 — the date when the issuer repays the nominal value and the bond ceases to exist.
• Years to maturity: 10 — the remaining time until the maturity date, which influences the bond's sensitivity to interest-rate changes.
• Price change today: -0.08% — the intraday move, showing a small decline relative to the previous close.

What to watch

• Interest rates — when benchmark rates rise, existing bond prices tend to fall, and vice versa.
• Issuer credit quality — changes in the sovereign's fiscal position or credit outlook can affect perceived risk and price.
• Inflation expectations — because the bond pays a fixed coupon in RON, higher-than-expected inflation can erode real returns.
• Liquidity and trading volume — thinner trading on the BVB can widen bid-ask spreads and affect execution costs.
• Peer comparisons — investors often compare R3609A against other Fidelis issues such as Fidelis EUR 4.75% 2030 (R3012AE) or Fidelis EUR 3.85% 2027 (R2705AE) to assess relative value across currencies and tenors.