Ferrovie dello Stato Italiane, new 800 million euro green bond for 7 years

Ferrovie dello Stato Italiane (FS) has placed its tenth green bond under its EMTN programme for a nominal value of 800 million euros , maturing in June 2032.

The issuance will be dedicated to the financing of Eligible Green Projects , in accordance with the provisions of the current FS Green Bond Framework . In particular, the proceeds will be used to finance both maintenance expenses relating to Trenitalia 's electric passenger trains, and works on the railway infrastructure for the completion of RFI's Turin-Milan-Naples high-speed network.

The coupon was set at 3.375%, with a final spread of 105.1 basis points above the reference mid-swap rate. The bond will be listed on Euronext Dublin and for the first time on the MOT (Telematic Bond Market) of Borsa Italiana .

Market demand was 2.3 times higher than supply and involved more than one hundred orders from investors, with a strong presence from abroad. The presence of ESG investors was very large, equal to 88% of the entire placement. Among the investors was also the presence of the European Investment Bank (EIB), which for the first time underwrote an Italian green corporate public issue.

The success of this operation, in a complex market context, strengthens the interest of the financial community towards Ferrovie dello Stato Italiane, which confirms itself, to date, as the main corporate issuer in terms of amount of green bonds issued in Italy.

BNP Paribas , Crédit Agricole CIB , Goldman Sachs International , HSBC , IMI-Intesa Sanpaolo , Morgan Stanley and UniCredit acted as Joint Bookrunners.