Ferrovie dello Stato SpA has launched a green bond of Euro 1.1 billion at 3.75% maturing in April 2027

On Tuesday, 7 September June, Ferrovie dello Stato S.p.A. successfully placed a new 4.5 year senior unsecured Green bond.

The net income of the issue will be used to finance the company’s eligible green projects, in line with the provisions of Ferrovie’s Green Bond Framework, drawn up in compliance with the Green Bond Principles 2021 published by ICMA and the European Union’s Taxonomy, aimed at encouraging sustainable investments.

• With a nominal value of Euro 1.1 billion, the transaction has a fixed rate, is unsubordinated and unsecured, matures on 14 April 2027 (bullet), pays an annual coupon of 3.75%, and has an issue price of 99.616%.The effective yield is 3.847% and corresponds to a spread of 87 basis points above the yield of the reference BTP (BTP 1.10% April 2027), equivalent to a spread of 158.5 basis points above the mid swap rate with the same duration. The securities will be listed on the Irish Stock Exchange.
• The Company is rated Investment Grade BBB by Standard & Poor’s and BBB by Fitch. Sustainalytics issued the Second Party Opinion.
• The security, restricted to professional investors and eligible counterparties, has raised total orders of around Euro 2.2 billion – twice the amount offered – from more than 160 investors of high quality and from a wide geographical area.The positive feedback received has allowed for a 13 -basis-point reduction in the transaction’s yield from the initial guidance (from 100 to 87 bps), and an increase in the size offered to Euro 1.1 billion.
• Banca Akros acted as Joint Bookrunner.
• For Banca Akros, this is the ninth bond issue in which it has acted as leading bank during 2022.

Advertising message for promotional purposes. For the economic and contractual conditions, please refer to the information sheets available at the bank’s branches and on the website in the Transparency section.