Subscriptions of 350 million lei in the Fidelis offer, three days after its debut

The subscriptions of small investors in the last Fidelis government securities offer amounted to almost 350 million lei, yesterday, half an hour before the closing of the stock exchange session, according to the data collected by us from the platform of a brokerage company.

The offer, which started on June 18 and will end at the end of next week, is divided into five installments, three in lei and two in euros. Until yesterday at 17:30, for the tranche in lei with a maturity of one year and an interest rate of 6%, the subscriptions were 84.8 million lei, while in the case of those with an interest rate of 6.85% and a maturity of three years, the value of purchase orders amounts to 63.1 million lei.

The installment of blood donors had accumulated subscriptions of 23.2 million lei. The interest offered in this case is 7%, and the maturity of the securities is one year. Within this installment, people who have donated blood starting from January 1, 2024 can subscribe.

For the tranches in euros, the subscriptions were 21.1 million euros (105.2 million lei), in the case of the one with a maturity of one year and 4% interest, respectively 14.3 million euros (71.1 million lei) for the tranche with a maturity of five years and an interest rate of 5%.

The offer takes place in a period of high inflation in our country, but which shows signs of deceleration. For the second quarter of this year, the BNR forecasts an inflation of 6%, which will drop to 4.9% in the fourth quarter, respectively 3.5% in the last part of next year. In the case of the euro zone, the European Central Bank indicates inflation of 2.2% in 2025, which will drop to 1.9% in 2026.

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 and 1,000 euros, respectively. In the case of the blood donor installment, the minimum subscription is 500 lei.

In the process of underwriting government bonds, no commissions are charged by intermediary banks, and the income obtained, both from interest and from capital gains, are non-taxable. After the end of the subscription period, the securities will be listed on the Bucharest Stock Exchange.

Through the previous offer, which took place in April, Finances collected 3.2 billion lei from the population.