Subscriptions in the Fidelis offer are approaching 150 million euros

The subscriptions of the last Fidelis government bonds offer on Friday, in the second part of the day, amounted to around 141 million euros, according to the data we collected from the brokers' platforms.

The offer, which started on November 27 and will end at the end of this week, is divided into five installments, three in lei and two in euros. On Friday, at 4:30 p.m., the tranche in lei with maturity in 2024 and interest of 6.1%, accumulated subscriptions of 91.6 million lei (about 18.4 million euros), and for those with maturity in 2026 and interest annual growth of 7.25%, the purchase orders launched by investors amounted to 171.7 million lei (34.5 million euros).

For the tranche of blood donors, which expires in 2024 and have an interest rate of 7.1%, the subscriptions were 26.1 million lei (almost 5.3 million euros). In this tranche, the minimum subscription threshold is 500 lei.

In the case of the tranche denominated in euros, with the maturity of one year and the interest of 4%, the purchase orders totaled 41.3 million euros, while the subscriptions for those with the maturity in 2028 and the annual interest of 5.5%, the subscriptions amounted to 41.7 million euros.

Through the last Fidelis offer, which ended in October, Finances collected 300 million euros from the population, well below the amount collected following the previous offer, of 483 million euros.

This is the fourteenth issue of Fidelis government securities carried out by the Ministry of Finance through the capital market from July 2020 until now. The offer takes place at a time when inflation is decelerating, for the end of next year the NBR is forecasting an inflation of 4.8% (±2.2%), which will reach 3.3 (±2.4%) in the quarter the third from 2025.

In September, the European Central Bank forecast average inflation of 3.2% next year for the euro area and 2.1% in 2025.

The nominal value of a Fidelis government bond is 100 lei for the issue in lei and 100 euros for the issue in euros, and the minimum subscription threshold is 5,000 lei (except for the blood donor tranche), respectively 1,000 euros.

In the process of underwriting Fidelis government securities, no commissions are charged by intermediary banks, and the income obtained, both from interest and from capital gains, are non-taxable.

Resident and non-resident individuals over the age of 18 can subscribe to Fidelis state securities denominated in lei and euros, through the partner banks BT Capital Partners & Banca Transilvania, Banca Comercială Română, BRD - Groupe Societe Generale and Alpha Bank. The securities will be listed on the Bucharest Stock Exchange, the estimated date for entry into trading being December 21, 2023, according to an announcement by the Ministry of Finance.