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Rome, October 27th, 2023 - Ferrovie dello Stato Italiane S.p.A. (FS) has established today its Euro-Commercial Paper Programme (ECP Programme), with a duration of three years and an aggregate maximum amount of up to 2 billion euros.
The ECP Programme has been submitted to the STEP Secreteriat to obtain the so-called STEP Label, so that the commercial papers issued in the ECP Programme framework will be eligible under the STEP Market Convention.
The ECP Programme further increases the number of financial instruments available to the FS Group for its short-term funding. The commercial papers will be offered to institutional investors only, with a minimum denomination per unit of 100,000 euros or equivalent amount in another currency.
The ECP Programme has been rated ‘A-2’ by S&P and ‘F2’ by Fitch.
In parallel with this initiative, FS also obtained for the first time a short-term rating of ‘A-2’ from S&P and ‘F2’ from Fitch.
Crédit Agricole Corporate and Investment Bank and ING acted as Arrangers.
Barclays, BofA Securities, Crédit Agricole Corporate and Investment Bank, Intesa Sanpaolo (Divisione IMI CIB), ING and Société Générale act as Dealers.
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