The third edition of this year's Fidelis Government Securities Program, conducted between March 6-13, 2026, drew subscriptions of over 1.17 billion lei, the Ministry of Finance announced on Monday.
During the offering period, investors placed a total of 14,691 subscription orders, with a total investment value of 533.96 million lei and 126.13 million euros.
The special tranche dedicated to blood donors, with a maturity of 2 years and an interest rate of 6.90%, attracted 99.71 million lei through a number of 2,258 subscription orders, with investors benefiting from the minimum subscription threshold reduced to 500 lei.
Regarding standard issues in lei, investors had three maturities at their disposal. For the 2-year maturity and 5.90% interest, subscriptions worth 236.56 million lei were recorded, achieved through 2,788 orders. The 4-year maturity, 6.60% interest, totaled 52.09 million lei, being accessed through 730 orders, while the 6-year maturity and 7.10% interest attracted 145.59 million lei through 2,257 orders.
For instruments denominated in euro, the offer included maturities of 3, 5 and 10 years, and the results confirm a clear trend of Romanians orienting themselves towards long-term investments, the Ministry of Finance informs. The 3-year maturity and 3.50% interest rate recorded subscriptions of 19.33 million euros, equivalent to approximately 98.82 million lei, through 1,135 orders, and the 5-year maturity, 4.50% interest rate, accumulated 14.99 million euros, equivalent to approximately 76.60 million lei, through 942 orders.
"The star of this edition, however, was the 10-year maturity, 6% interest, which recorded the highest number of subscriptions among all the tranches of the issue. It attracted 91.80 million euros, the equivalent of approximately 469.14 million lei, through 4,581 orders. The fact that the longest maturity was also the most accessed demonstrates the high trust of investors in the Romanian state and their preference for safe and predictable long-term investments," the Ministry of Finance said in a release.
The Fidelis program recorded, in the first three months of 2026, a total value of subscriptions of over 4.07 billion lei, with a total of 45,234 subscription orders being placed.
"At the same time, the solidarity of donors-investors remained exemplary in 2026: they invested a total of over 270.20 million lei (270,203,700 lei) through 6,540 orders, saving lives and investing in their future," the cited source reads.
The Ministry of Finance recalls that Fidelis government bonds are financial instruments with zero risk, and income from interest and possible capital gains on the Bucharest Stock Exchange is non-taxable
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