(Tiper Stock Exchange) – Italian State Railways has placed today two fixed-rate issues with a total nominal value of €1.1 billion.
There tranche of 6 years (expiring May 2029) was placed for a amount of 600 million euro, with a 4.125% coupon and final spread of 125 basis points above the reference mid-swap rate.
There tranche of 10 years (expiring May 2033) was placed for a amount of 500 million euro, with a 4.5% coupon and final spread of 165 basis points above the reference mid-swap rate.
Proceeds will be dedicated to financing of Eligible Green Projects in accordance with the provisions of the FS Green Bond Framework. All funded investments meet the criteria of the EU Taxonomy as per the SPO.
The operation involved more than 180 orders from investors, mainly located in Italy, France and Germany. The demand from abroad represented about 60% of the total orders. The presence of ESG/Green investors was around 85% of the entire placement.
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.