The yields paid by Romania\u2019s Treasury on the bonds sold to households under the Fidelis issue (bonds not listed at the Bucharest Exchange but with a put option) increased again in the May issue after they had declined for two consecutive months in March and April from a peak level reached in February.<\/p>\n
The Treasury announced that it had sold government bonds with a total value of RON 8 billion (EUR 1.6 billion) to households in three monthly Fidelis issues this year in February, March, and April.\u00a0<\/p>\n
For comparison, the volume of bills and bonds sold on the primary interbank market in the year to date reached RON 25 billion (EUR 5 billion).\u00a0<\/p>\n
Romania also sold FX bonds with a total value of EUR 6.75 billion in two episodes this year. While the issues of FX bonds were put on ice until after the presidential elections and a new episode of fiscal corrective measures, the sale of debt on the local market continues.<\/p>\n
In May, between 9 and 16, Romanians will have the opportunity to buy government bonds denominated in local currency (RON) with maturities of 1, 3, and 5 years and coupons attached of 6.75%, 7.40%, and 7.80%, respectively.\u00a0<\/p>\n
The coupons increased by 15 basis points (bp) for the 1-year maturity compared to April \u2013 but remain below those paid by the Treasury in March (6.80%) or February (6.95%). The coupon attached to the 3- and 5-year bonds increased by 10bp and 20bp to 7.4% and 7.8%, respectively \u2013 also lagging behind those paid in March and February.<\/p>\n
Regarding the bonds denominated in euros, the coupons attached to the May Fidelis issue increased by 25bp for each of the two maturities to 3.85% (2-year) and 6.25% (7-year). The coupon for the 7-year issue has returned to the peak value reached in February.<\/p>\n