Romania's Finance Ministry launched on Thursday, September 1, several new state bond issues for the population through its Tezaur and Fidelis programs.

The Tezaur bonds in lei pay a yearly coupon of 7.75% for the one-year maturity and 7.9% for the two-year maturity.

The new Fidelis bonds come in three issues: one in lei, with a maturity of three years and a yearly coupon of 8%, and two in euro with maturities of 1 and 2 years and yearly coupons of 1.85%, respectively 2.65%, Ziarul Financiar reported.

The Tezaur bonds sell through the Treasury and Romanian Post offices, while the Fidelis bonds sell through banks and brokerage firms and are listed on the Bucharest Stock Exchange. The difference is that the holders of Tezaur bonds have no option but to keep them until maturity, while those who buy Fidelis bonds can later sell them through the BVB.

Investors who want to buy Fidelis bonds must invest a minimum of RON 5,000 or EUR 1,000. There's no such limit for Tezaur bonds.

andrei@romania-insider.com

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