Fs, here is the maxi financial operation with Intesa Sanpaolo, Unicredit, Cdp and more

25 June 20213 years ago babelfish

The credit line amounts to 2.5 billion euros: it is the largest financial operation ever for Ferrovie dello Stato and the first sustainability loan from FS

Ferrovie dello Stato (FS) signed today, with a syndicate of six financial institutions, the new committed and revolving credit line, for an amount of 2.5 billion euro and a three-year duration, the largest financial transaction ever for the group.

Intesa Sanpaolo, UniCredit, Cassa Depositi e Prestiti, Credit Agricole CIB and CaixaBank acted as Underwriters & Mandated Lead Arrangers; Banca Popolare di Sondrio as Participant; Intesa Sanpaolo, UniCredit and Credit Agricole CIB played the role of Sustainability Coordinators; the role of Agent Bank was assigned to Intesa Sanpaolo.

WHO HAS SUBSCRIBED THE LINE OF CREDITS

The line, signed with FS Holding by Intesa Sanpaolo, UniCredit, Cassa Depositi e Prestiti, Credit Agricole CIB, CaixaBank and Banca Popolare di Sondrio, is the first Sustainability Linked product of the FS Italiane Group, thanks to the contractual provision of margin revision mechanisms and the commitment fee for the achievement of targets relating to four Key Performance Indicators which illustrate the Group's commitment on multiple issues in the ESG field.

THE GOALS OF RAILWAYS

Two KPIs are transversal objectives for the Group – such as the improvement of a sustainability rating and the reduction of the gender gap in top positions – and two are distinctive and specific objectives, in the field of sustainable mobility and accessibility in stations, relating to projects of the main operating companies of the Group, RFI and Trenitalia, reads a note from the FS: "Therefore, for the first time, priority objectives for FS and for the country, such as female employment and social commitment to facilitate the modal shift towards means of transport with a reduced environmental impact ".

WHAT RAILWAYS DO ABOUT SUSTAINABLE FINANCE

After 3 green bonds placed since 2017 and the further bilateral operations finalized between 2020 and 2021 with purposes in line with the principles of ESG finance, the signing of this new Backup Facility marks for FS – it is underlined in a note from the group – " a further and important step in the path of innovation and expansion of the range of sustainable finance products used to cover the needs of the main subsidiaries, testifying to the strategic nature of these tools that allow the market to confirm the strong integration of sustainability objectives in the group's businesses ".

COMPETITIVE SELECTION BETWEEN BANKS

The finalization of the transaction follows a competitive selection between banks, launched last April, with the aim of obtaining a new committed line from the market within the first half of 2021, larger than the existing one, to meet liquidity needs. of the group, also considering the crucial role that the main operating companies will play in implementing the National Recovery and Resilience Plan which has among its pillars the infrastructure modernization of the country for the development of safe, integrated and sustainable mobility.

THE ROLE OF INTESA SANPAOLO

This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/smartcity/ferrovie-dello-stato-linea-di-credito-2-5-miliardi/ on Fri, 25 Jun 2021 14:53:54 +0000.