FS Group Secures Landmark €3.5 Billion Sustainability-Linked Credit Facility

FS Group Secures Landmark €3.5 Billion Sustainability-Linked Credit Facility

(IN BRIEF) Ferrovie dello Stato Italiane S.p.A. (FS Group) has signed its largest ever financial deal, a €3.5 billion committed and revolving credit facility with a three-year term. The credit line, secured with nine banks including Banca Popolare di Sondrio, BNL-BNP Paribas, and UniCredit, is linked to sustainability goals. The facility’s terms adjust based on FS Group’s achievement of three ESG-related Key Performance Indicators: capital expenditure alignment with EU taxonomy, energy intensity, and the percentage of female employees. This transaction highlights the market’s confidence in FS Group’s commitment to sustainable growth.

(PRESS RELEASE) ROME, 22-Jun-2024 — /EuropaWire/ — Ferrovie dello Stato Italiane S.p.A. (FS Group) has successfully signed a new committed and revolving credit facility with a syndicate of nine banks and financial institutions, amounting to €3.5 billion with a three-year term. This transaction marks the largest financial deal in FS Group’s history.

The participating banks include Banca Popolare di Sondrio, BNL-BNP Paribas, BPER, CaixaBank, Cassa Depositi e Prestiti, Crédit Agricole CIB, ING, Intesa Sanpaolo – Divisione IMI/CIB, and UniCredit. The credit line is a Sustainability Linked product, featuring mechanisms to adjust the margin and commitment fee based on the achievement of three Key Performance Indicators (KPIs).

These KPIs demonstrate FS Group’s dedication to Environmental, Social, and Governance (ESG) principles:

  1. Percentage of capital expenditure aligned with EU taxonomy.
  2. Energy intensity, measured as the ratio of energy consumption to FS Group’s operating revenues.
  3. Increase in the percentage of female employees within the company.

A competitive selection process among banks was launched in March, aiming to secure a new committed line with greater availability by mid-2024 to better meet FS Group’s liquidity needs. The scale and participation in this transaction underscore the market’s confidence and the deal’s success.

BNP Paribas, BPER, CaixaBank, Cassa Depositi e Prestiti, Crédit Agricole CIB, Intesa Sanpaolo – Divisione IMI/CIB, and UniCredit served as underwriters and mandated lead arrangers. Banca Popolare di Sondrio and ING acted as co-lead managers, with Intesa Sanpaolo designated as Agent Bank. Additionally, BNP Paribas, Crédit Agricole CIB, Intesa Sanpaolo – Divisione IMI/CIB, and UniCredit served as Sustainability Coordinators.

This landmark credit facility reinforces FS Group’s commitment to sustainable growth and responsible business practices.

Media Contact:

email:  ufficio.stampa@fsitaliane.it

SOURCE: Ferrovie dello Stato Italiane (FS Group)

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