This press release (the “Press Release”) (including the information contained herein) does not constitute or is part of an offering of the Notes in the United States of America, Japan, Australia or Canada and any other jurisdiction where the extension, dissemination or availability of the transaction (and any other transaction contemplated thereby) would breach any applicable law or regulation or require registration of the Notes in the relevant jurisdiction (the “Restricted Jurisdictions”). This Press Release is not for publication or distribution, directly or indirectly, in or into the Restricted Jurisdictions.
Rome, June, 18th 2025 – Ferrovie dello Stato Italiane S.p.A. (FS) placed its tenth green bond under its EMTN Programme for a nominal amount of 800 million euros maturing in June 2032.
The issue 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 related to Trenitalia passengers’ electric trains, as well as works on the rail 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 (Electronic Bond Market) of the Italian Stock Exchange (Borsa Italiana).
Order book was 2.3 times higher than demand and involved more than a hundred orders from investors, with strong presence from abroad. The presence of ESG investors was noteworthy, equal to 88% of the entire placement.
Among the investors there is also the presence of the European Investment Bank (EIB), which for the first time has subscribed an Italian corporate public green issue.
The success of this transaction, in a complex market environment, strengthens the interest of financial community for the FS Group, which is confirmed, to date, as the leading corporate issuer in terms of size 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.
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