Italo raises the largest-ever Green Loan in the transportation sector

Italo raises the largest-ever Green Loan in the transportation sector

Rome 07/11/19. Italo, Europe’s leading high-speed rail passenger private operator, announced it has successfully signed a €1.1bn syndicated Green Loan. Strengthening Italo’s commitment to environmental sustainability, the transaction represents a milestone in Green Financing as the largest-ever Green Loan in Italy, and in the transportation sector worldwide.


Italo owns and operates a best-in-class environmentally friendly fleet of electric trains, comprising latest generation AGV and new EVO trains. The proceeds of the transaction will be used to re-finance Italo’s €900m existing green investments and to further invest in its modern and efficient fleet. Travelling with Italo from Rome to Milan generates 79% less CO2 emissions than driving and 85% less than flying. 98% recyclable materials are used in the production of the Italo trains.


Gianbattista La Rocca, CEO of Italo, declared: "With today's signature, we have completed the world's largest green loan in the transportation sector. We are very proud of it because today Italo is recognized as a global leader in sustainability. Added to this, an improvement of terms and conditions of our financial structure”.




The deal was arranged by Banca IMI (Intesa Sanpaolo Group), Natixis and UniCredit acting as Global Coordinators, Bookrunners, Mandated Lead Arrangers and Green Coordinators, while ING Bank acted as Green Advisor to Italo. Italo’s team has been coordinated by the CFO –  Roberto Vitto.


The financing was syndicated to a group of Italian and international banks: Banco BPM, Banco Santander, BNL, ING Bank, Mediobanca and Société Générale acting as Mandated Lead Arrangers; BPER, CAIXA Bank, MUFG and NatWest acting as Lead Arrangers.


Shearman & Sterling acted as legal counsel to Italo, while White & Case acted on Lenders behalf.


Sustainalytics provided a favorable Second Party Opinion on Italo’s Green Finance Framework and its alignment with the Green Loan Principles.

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