Assisting Ferrovie dello Stato Italiane S.p.A as issuer on its inaugural green bond

International law firm Simmons & Simmons assisted Ferrovie dello Stato Italiane S.p.A. as issuer on its inaugural green bond for a nominal value of Euro 600m and annual coupon of 0,875%, pursuant to the EMTN Programme of the Company. The notes were listed on the Irish Stock Exchange.

Credit Agricole CIB and HSBC acted as Joint Structuring Green Advisors whilst Banca IMI, Barclays, Credit Agricole CIB, Deutsche Bank, Goldman Sachs International, HSBC, J.P. Morgan and SG CIB, acted as Joint Lead Managers and Joint Bookrunners.

The net proceeds arising from the transaction will be used to finance the renewal of the rolling stock for public transport and, namely, the regional passenger transport and the high-speed network. This will have a positive effect in terms of environmental sustainability as set forth in detail in the FS Green Bond Framework, drawn-up in compliance with the 2017 Green Bond Principles by the International Capital Market Association.

The issuance followed an international roadshow which involved a number of cities including Paris, Munich, Frankfurt, Amsterdam and The Hague.

The use of this instrument by FS points out the increasingly important role of such securities in the current economic framework.

The Simmons & Simmons team assisting on all Italian and English law aspects was led by partner Paola Leocani (Milan) and included partner Simon Ovenden (London) and supervising associate Pietro Magnaghi (Milan).