Ferrovie dello Stato Italiane has concluded a private placement bond issuance with Eurofima worth EUR 400 million to support Trenitalia’s rolling stock modernisation programme. The bonds are variable rate and have a maturity of 15 years.
The bond will finance the Italian operator’s fleet dedicated to regional services across the country. This includes eight E464 locomotives and 33 Jazz electric multiple units (EMUs) in 4-, 5-, and 6-car configurations manufactured by Alstom, as well as rolling stock supplied by Hitachi Rail, comprising 76 double-deck Vivalto coaches and 25 Class HTR 312 and HTR 412 tri-mode multiple units.
The HTR 412 tri-mode multiple unit, also known as the Blues train, features three power sources, enabling seamless and sustainable operation on both electrified and non-electrified lines, reducing carbon emissions by up to 50%. The train is 86.1% recyclable, with a recoverability rate of 95.9%.
Hitachi Rail and Trenitalia signed a framework agreement for the supply of 135 trains, including tri-mode units, with the first batch of 20 multiple units delivered in 2023. The agreement has a total value of EUR 1.23 billion and includes a firm order for 98 trains in three- and four-car configurations.
A separate agreement between Trenitalia and Alstom, signed in 2012, covered the delivery of 95 Coradia Meridian EMUs, known as Jazz trains, designed for regional services. In April 2015, Trenitalia exercised two options and ordered a further 25 Jazz trains, bringing the total fleet to 95 trainsets. Alstom delivered the final Jazz unit in 2019, and the fleet now operates in 11 Italian regions. Trenitalia currently operates 136 Alstom Coradia trains and over 150 Coradia Stream Pop trains.
The Jazz and Pop trains form part of a broader plan to modernise regional transport and are already transforming the commuting experience across Italy.
The financed rolling stock qualifies as green and is fully aligned with the latest version of the Eurofima Green Bond Framework. Eurofima stated: “We are proud to have concluded this new transaction, reaffirming both our public mission in Italy – supporting regions with better connectivity – and our commitment to promoting more sustainable and greener modes of transport.”
Trenitalia’s rolling stock modernisation aims to provide passengers with improved and more comfortable transport services, while making a positive contribution to environmental and social sustainability by encouraging a modal shift to rail.
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