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Rome, 16 May 2023
Ferrovie dello Stato Italiane issued today a dual tranche fixed-rate bond transaction, with a total nominal value of 1.1 billion of euro.
The 6-year tranche (maturity May 2029) was issued in the amount of 600 million of euro, with coupon 4.125% and final spread of 125 basis points above the benchmark mid-swap rate.
The 10-year tranche (maturity May 2033) was issued in the amount of 500 million of euro, with coupon 4.5% and final spread of 165 basis points above the benchmark mid-swap rate.
The proceeds will be allocated to finance Eligible Green Projects in accordance with the FS Green Bond Framework. All financed projects meet the criteria of the EU Taxonomy as per SPO.
The transaction involved more than 180 orders from investors, located mainly in Italy, France and Germany. Demand from abroad accounted for about 60% of total orders. The presence of ESG/Green investors has been very extensive, at about the 85% of the entire transaction.
Barclays, BNP Paribas, Crédit Agricole CIB, Deutsche Bank, Goldman Sachs International, Intesa Sanpaolo (IMI CIB Division), JP Morgan, Morgan Stanley, Santander, and UniCredit acted as Joint Bookrunners
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