March 04, 2015

FS approves €1.5bn bond issue

Written by  Marco Chiandoni
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THE board of directors of Italian State Railways (FS) approved a proposal on February 25 to issue one or more loan stocks through a Euro Medium Term Note (EMTN) on the Dublin stock exchange.

The bond, which can be used to raise up to €1.5bn, will be placed with institutional investors.

FS plans to use the funds raised through the EMTN to finance infrastructure projects including the Bari – Naples and Milan – Venice high-speed lines and new rolling stock, including the Jazz regional EMUs being supplied by Alstom and the Bombardier/AnsaldoBreda ETR 1000 Frecciarossa high-speed trains.

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