Italo launches the largest ever Green Loan in the transport sector

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from Brevi Ferraris on November 7th 2019

Italo – NTV press release

Italo, Europe's leading private high-speed rail transport company, announces it has signed a "green" bank loan of € 1.1 billion. The operation, which strengthens Italo's commitment to environmental sustainability, is a milestone in Green Financing, representing the largest "green" loan ever issued in Italy and, for the transportation sector, worldwide.

Italo owns and manages a fleet of electric traction trains composed of the latest generation AGV trains and the new EVO trains. The proceeds of the operation will be used to refinance Italo's current "green" investments of € 900 million and to support further investments in its modern and efficient fleet. Traveling with Italo from Rome to Milan, you save 79% of CO₂ emissions compared to car use and 85% compared to the plane. 98% of the materials used in the production of Italo trains are recyclable.

Gianbattista La Rocca, CEO of Italo, declared: "With today's signing we have signed the largest" green "bank loan in the world in the transport sector. We are very proud of it, as from today Italo is recognized as a global leader in sustainability. Added to this is a contextual improvement in the terms and conditions of our financial structure ".

Note
The transaction was managed by Banca IMI (Intesa Sanpaolo Group), Natixis and UniCredit as Global Coordinators, Bookrunners, Mandated Lead Arrangers and Green Coordinators, while ING Bank acted as Italo's Green Advisor. The Italo team was coordinated by CFO Roberto Vitto.
The loan was syndicated to a group of Italian and international banks: Banco BPM, Banco Santander, BNL, ING Bank, Mediobanca and Societe Generale as Mandated Lead Arrangers; BPER, CAIXA Bank, MUFG and NatWest as Lead Arrangers.
Shearman & Sterling acted as legal counsel for Italo, while White & Case acted on behalf of the lending banks.
Sustainalytics has issued a positive SPO (Second Party Opinion) regarding Italo's Green Finance Framework in line with the Green Loan Principles.

Italo press release – NTV – 07 November 2019
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