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.