Approved by the Board of Directors of Italian State Railways New Bonds For a total value of 1.95 billion. The same group says it with a press release in which it announces the issue of the EMTN (Euro Medium Term Notes) bonds and other collection tools.
As specified by the Company, any bond emissions relating to the EMTN program listed on the Irish Stock Exchange will be reserved for institutional investors.
The issue of the new bonds
The Board of Directors, chaired by Tommaso Tanzilli, has given the green light to the issue of the new medium/long -term bonds for the collection in 2025 of funds on the debt capital market, in order to finance the investments of the FS group.
In this context, the company also provides for further operations in the ESG and Green fields, especially targeted in renewal of the vehicles on Rotaiafrom locomotives to automators, from carriages to wagons, to maintenance of convoys for passengers and goods, as well as the high -speed and high -capacity railway infrastructure.
Last December Ferrovie dello Stato Italiane announced the conclusion of the medium/long -term collection operations of 2024, for a total of 3.95 billion eurosby communicating the signing of a four -year 2 billion funding with Intesa Sanpaolo – IMI CIB.
Also in this case the operation was aimed at financing extraordinary maintenance costs for the modernization of the network, according to compliance with good business management practices and environmental and social impact criteria.
What is the EMTN program
The FS group has adopted an EMTN program since July 2013, when it landed at the Euronext Dublin with a 4.5 billion ceiling, increased in April 2023 until the current 12 billion.
The Euro-Medium Term Note Program is one instrument which allows you to collect savings with bonds with a deadline typically between 18 months and 3/5 years, issued and negotiated on the European market and outside the US markets and Canada.
The investigation on FS
The emission of the EMTN bonds arrives while Ferrovie dello Stato and the subsidiary Italian railway network were reached by oneAGCM investigation for the verification of an alleged abuse of dominant position.
According to the market authority, the new incoming operator Sncf voyages italy It should face slowdowns and in some cases obstacles in accessing the Italian railway infrastructure and, consequently, in entry into the high -speed transport market for passengers.
According to what explained by the Antitrustust in the start order, the strategy “would have been implemented through various conducts of the Italian railway network Spa as regards the assignment of the infrastructure capacity”.
The authority has made it known in relation to the investigation that officials of the AGCM, with the help of the special antitrust nucleus of the Guardia di Finanza, carried out inspections In the Italian Railway Network offices, of Ferrovie dello Stato Italiane Spa and also at the offices of Trenitalia Spa and Italo – new transport travelers spa.
The companies of the FS Italian group have declared, with a note, that they had “fully collaborated with the AGCM For the success of the inspection operations and will have the opportunity to represent the correctness of their conduct during the procedure, already on the occasion of the audition provided for by the start of the investigation which will take place in the next 60 days “.
