(Finance) – FS Italiane today issued its sixth green bond for a nominal value of 1.1 billion euros with deadline April 2027.
The issue will be dedicated to the financing of the Eligible Green Projects in accordance with the FS Green Bond Framework updated last June. In particular, the proceeds will make it possible to finance both the purchase of new trains and expenses for the maintenance of Trenitalia’s rolling stock as well as – for the first time – investments for the completion of RFI’s Turin-Milan-Naples high-speed network.
All the financed investments meet the criteria of the EU Taxonomy, as confirmed by the second party opinion of Sustainalytics.
There coupon it was set at 3.75% with a final spread of 158.5 basis points above the reference mid-swap rate.
There request of the market was over € 2.1 billion and affected more than 150 orders by investors, with strong demand from abroad (equal to 67% of the total) and in particular from Germany, the United Kingdom and France. The presence of ESG investors was very large, equal to 65% of the entire placement.
This made it possible to close thetransaction with the highest size ever for an EMTN stock of FS. The high demand, especially from non-domestic investors, represents a positive sign for FS and for Italy in a highly volatile and complex market. The progress of the operation and the order book attest, in fact, the interest in the Group and its ten-year Business Plan, recognizing its strategic role for the relaunch of the country and its crucial commitment in facilitating the green transition through a more sustainable mobility.
Banca Akros, Barclays, BNP Paribas, Credit Agricole CIB, Goldman Sachs International, HSBC, IMIIntesa Sanpaolo, Morgan Stanley and UniCredit acted as Joint Bookrunners.