Rome, December 19th, 2024
Ferrovie dello Stato Italiane S.p.A. ("FS") completes its medium/long-term funding for 2024, subscribing today a 4-year loan with Intesa Sanpaolo - IMI CIB, for a total of two billion euros. Its proceeds will finance extraordinary maintenance expenses, for the modernization of railway infrastructure, compliant with the ESG principles, allowing significant environmental and social benefits.
Intesa Sanpaolo - IMI CIB won a tender – launched by FS in last October - participated by eight domestic and international banks, whose total bids amounted to a record amount of 4.65 billion euros.
This transaction confirms the capital market's appetite for FS Group credit risk and projects, in a year in which FS finalized m/l term transactions for a total of 3.95 billion euros.
The new loan provides for an innovative structure, as it benefits from an autonomous first-demand guarantee issued by SACE on the 50% of the funded expenses - equal to 1 billion euros - eligible for the so-called "Archimede guarantee", as introduced by Law 213 of 30 December 2023. This guarantee covers Italian infrastructure and production investments, promoting the growth and competitiveness in the Country.
This transaction will allow the extension to January 2029 of the short-term loan, having the same amount - signed with Intesa Sanpaolo on 25 July 2023, due next 20 January 2025.