Small investors bought Fidelis government bonds, April 2023 edition, of approximately 714 million lei in the tranche denominated in the national currency, where the interest rates reached 7.7% per year, and of another approximately 473 million euros in the tranche in the currency European, at a maximum interest rate of 5.8% per year, according to calculations made by Ziarul Financiar from brokers’ platforms. These interests are non-taxable.
In total, approximately 3.1 billion lei invested by small investors in the 11th issue of Fidelis government bonds, double the previous edition from December 2022, whose interest rates in lei were the same as now, but lower for those in euros.
According to the data aggregated by ZF, Fidelis April 2023 has the highest value of the 11 issues that MFP runs on the BSE from the summer of 2020 onwards. In total, in the last 3 years, the Romanian state attracted approximately 18 billion lei from investors.
About 18,000 subscription orders were recorded in the brokers’ systems as of Monday evening. An investor can have several orders, either in lei or euros. Of these, about 6,300 were on issues denominated in lei, that is, an average of 113,000 lei, while another 11,500 were on the tranche in euros, respectively an average of 40,000 euros.
The largest subscription order was from a blood donor, namely 50 million lei, i.e. 500,000 government bonds, for 1 year at 7.7% interest. Also on this maturity, but at an interest rate of 6.7%, for “classic” investors, the largest order was for 20 million lei, and for three years, at 7.35%, one for 15 million lei.
On the euro, on the 1-year tranche at 3.7% interest per annum, the largest order registered was 4.9 million euros, and on the 5-year tranche with 5.8% interest, 4 million euros.
Most likely on April 18, these government bonds will enter trading at the Bucharest Stock Exchange, where those who need liquidity will be able to sell them and those who have not subscribed to the offer will be able to purchase. The price will depend on the ratio between supply and demand and the conditions in the economy, especially the level of the inflation rate.
The situation of Fidelis, April 2023, is as follows: 371 million lei for one year with 6.7% per annum, 179 million lei for three years with 7.35% interest per year and 164 million lei for the donors’ tranche of blood, respectively 7.7% interest for 1 year.
On the euro, the one-year tranche with 3.7% raised 198 million euros and the five-year tranche with 5.8% per year about 275 million euros. A total of 473 million euros on the single European currency.
The orders related to the subscriptions allocated to investors based on the subscriptions validated by the members of the brokerage syndicate/Eligible Participants will be registered in the BVB trading system dedicated to public offers (government securities). The estimated date of entry into trading is April 18, 2023.
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