Business Forum • 3 October, 2025 at 6:03 PM
The Romanian Ministry of Finance has announced the launch of the ninth Fidelis government bond programme for 2025, with subscriptions open from 10–17 October.
This new tranche of bonds is part of a combined programme with the Tezaur scheme, offering a full range of maturities from 1 to 10 years for investors.
For RON-denominated bonds, interest rates are 7.20% for a 2-year maturity, 7.60% for a 4-year maturity, and 7.90% for a 6-year maturity.
Investors in euro-denominated bonds can earn 4.15% for a 3-year maturity, 5.25% for a 5-year maturity, and 6.50% for a 10-year maturity.
The previous eight bond issues in 2025 have already attracted a total investment of over RON 16.12 billion (€3.26 billion) from 169,191 subscription orders.
Income from Fidelis bonds is tax-exempt, and investors can also sell their bonds before maturity on the stock exchange.
The bonds have a nominal value of RON 100 for RON issues and €100 for euro issues.