Retail investors lose interest in Romania's Fidelis government bonds

13 July 2026 Romania's Ministry of Finance raised RON 658.2 million (EUR 132 million) from retail investors in the latest Fidelis government bond issue, marking the programme's weakest offering since its launch in August 2020 and extending a recent decline in investor demand. The subscription period ran from July 3 to July 10. The amount raised was down almost 30% from the RON 940 million collected in June, which had already been one of the programme's weakest editions, Ziarul Financiar reported. The latest issue consisted of four leu-denominated and three euro-denominated tranches. Of the total amount raised, RON 202.6 million came from leu-denominated bonds, while investors subscribed EUR 87.6 million (equivalent to around RON 455.6 million) in euro-denominated securities. The weaker sub