Today is the last call for subscriptions within the Fidelis offer

• The subscription period ends at 13:00

• The value of the purchase orders launched exceeded the threshold of two billion lei

Investors who want to subscribe to Fidelis government securities can do so until today, at 1:00 p.m., according to the information in the issue prospectus of the fourth offer of government securities intended for the population listed on the Bucharest Stock Exchange (BVB), from this year.

The offer, which started on August 8, is divided into five installments, three in lei and two in euros.

Until yesterday afternoon, the value of the subscriptions had exceeded the threshold of two billion lei, respectively 2.1 billion lei, according to our calculations based on the data available in the platform of a brokerage house. For the tranche in lei with a maturity of one year and an interest rate of 5.8%, the subscriptions were 391.3 million lei, while in the case of those with an interest rate of 7% and a maturity of five years, the value of the purchase orders was to 391.6 million lei.

The tranche dedicated to blood donors had accumulated subscriptions of 140.4 million lei. The interest offered in this case is 6.8%, and the maturity of the securities is one year. Within this tranche, people who have donated blood starting from March 1, 2024 can subscribe.

For the tranches in euros, the subscriptions were 166.8 million euros (830.6 million lei), in the case of the one with a maturity of one year and 4% interest, respectively 74.7 million euros (372.1 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 disinflation. For the last quarter of this year, the BNR forecasts an inflation of 3.1%, which will drop to 3.2% at the end of next year. The European Central Bank indicates inflation of 2.5% this year, which will decelerate to 2.2% in 2025 and 1.9% in 2026.

The minimum subscription is 5,000 lei for issues in the national currency and 1,000 euros for those in the European currency. For the installment of blood donors, the minimum subscription is 500 lei. 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.

The securities will be listed on the Bucharest Stock Exchange on August 26.

The primary offer for sale of Fidelis government securities is mediated by the banks BT Capital Partners&Banca Transilvania, Banca Comercială Română, BRD - Groupe Societe Generale and Alpha Bank.