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            Discovering Italian Fixed Income Markets 

            Borsa Italiana, part of Euronext Group, launches the new initiative "Discovering Italian the Fixed Income Markets".


            We meet the Issuers who have chosen Borsa Italiana's Fixed Income markets for their development projects and discover, together with them, the success stories and the major benefits obtained from operations on Borsa Italiana's markets, recounted in short video interviews.

            The Success Stories: A2A

            Discover more about the event that celebrates the start of trading of Italy’s first Blue Bond issued by A2A, listed on Borsa Italiana’s regulated MOT market. A private placement issuance of €155 million, with a five-year maturity and a 2.875% coupon, and was issued under the EMTN Programme approved by Consob in December 2024 and subsequently supplemented in January and September of this year. The proceeds will finance "blue" projects dedicated to the protection, regeneration, and sustainable management of water resources, in line with the ICMA Principles and the International Finance Corporation (IFC) blue finance guidelines. This issuance underscores the maturity of the domestic infrastructure and the interest of institutional investors, confirming Italy as a point of reference in the bond market and the pioneering leadership of Italian issuers in sustainable finance.

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            The Success Stories: Dolomiti Energia Holding

            Discover more about the event that celebrate the start of trading of Dolomiti Energia Holding’s first Green Bond on the Borsa Italiana markets: a €300 million issuance, with a 5-year maturity and a 3.5% coupon, listed on MOT, the regulated market that directly and efficiently connects institutional and retail investors. This transaction represents a tangible sign of the domestic market’s ability to support companies committed to their local territories and the sustainable transition, key pillars for the growth and financing of the real economy, while the strong interest from institutional and retail investors confirms the vitality of the entire Italian financial ecosystem.

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            The Success Stories: ENI

            Discover more about the event celebrating ENI’s return to Italy with the largest EMTN programme repatriated to date of €20 billion, approved by Consob and listed on the professional segment of the MOT. This marks a new milestone for the domestic debt market and reaffirms Italy’s role as a pan-European hub for bond issuance. An achievement made possible by the continuous dialogue between institutions, authorities and market participants, aimed at further strengthening the competitiveness and accessibility of the Italian debt market, to the benefit of the entire financial ecosystem.

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            The Success Stories: IREN

            Discover more about the event celebrating the reshoring of Iren’s €5 billion EMTN Programme, approved by Consob and listed for the first time on the professional segment of the regulated MOT market. This milestone strengthens Italy’s role as a pan-European hub for bond issuance, enhancing the infrastructure of the domestic debt market and providing the company with an efficient and transparent platform to finance its industrial and ESG objectives. An achievement made possible by the synergy between institutions, regulatory authorities, and market participants, highlighting the growing appeal of the Italian market within the European landscape.

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            The Success Stories: Italgas

            Discover more about the event celebrating the repatriation of Italgas’s €5 billion EMTN Programme listed on the professional segment of the regulated MOT market, the first corporate issuer with securities centralized at Euronext Securities Milan. This result was made possible thanks to the collaboration of Consob and the support of market participants, which strengthens Italy’s central role as a competitive hub for the listing, trading, and post-trading of international bond issues.

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            The Success Stories: Ferrovie dello Stato italiane

            Discover more about Ferrovie dello Stato Italiane’s tenth green bond, a € 800 million issuance maturing in 2032 with a fixed coupon of 3.375%, listed on the professional segment of Borsa Italiana’s regulated MOT market and dual listed on Euronext Dublin. The bond was issued under the € 12 billion EMTN programme approved by the Central Bank of Ireland and attracted strong interest from investors, including the European Investment Bank (EIB), particularly those focused on sustainable finance, recording demand 2.3 times higher than the offer.

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            The Success Stories: CDP

            Discover more about CDP’s green bond, listed on the professional segment of Borsa Italiana’s regulated MOT market. The €500 million bond, with an 8-year maturity and a 3.25% coupon, stands out for its use of blockchain technology in ESG reporting. Issued under the Debt Issuance Programme (DIP) approved by Consob, it attracted demand five times higher than the offer, drawing strong interest from international investors.

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            The Success Stories: Nexi

            Discover more about Nexi’s €750 million bond issuance, maturing in 2031 with a fixed annual coupon of 3.875%, recently listed on the professional segment of Borsa Italiana’s regulated MOT market.

            With demand five times the offer, the transaction stands out as a clear market success for the issuer and all parties involved. It also underscores the strength of the domestic market as a competitive lever for European players like Nexi, who choose Italy as a modern and strategic gateway to international capital.



            The Success Stories: Banca Popolare di Sondrio

            Discover more about the listing of the first European Covered Bond Premium issued by Banca Popolare di Sondrio, under the Luxembourg Covered bond programme with a total value of 5 billion euros, also recognized in Italy. The bond, with an amount of 150 million euros, a coupon of 3.071%, and a 5-year maturity, is fully subscribed by the European Investment Bank (EIB). The operation stands out as an example of a virtuous collaboration between a bank deeply rooted in the local area and a European institution committed to supporting the Italian business ecosystem.


            The Success Stories: INWIT

            Discover more about INWIT’s 750 million euros bond issuance, listed on the professional segment of the MOT regulated market of Borsa Italiana, with a 5-year maturity and an annual coupon of 3.75%. The operation led to a strong market interest, with demand reaching three times the offer, confirming investor trust in Italy’s leading tower company. This issuance is part of the reshoring initiative, that aims to repatriate Italian bond issuances and represents an example of collaboration between two strategic infrastructures, with the ambition to strengthen the country’s economic system.




            The Success Stories: Terna

            Discover more about the listing of Terna's Green Bond on MOT, the regulated market of Borsa Italiana, which follows the ICMA principles and is aligned with the EU Taxonomy. The issuance, which took place under the Luxembourg EMTN programme of € 12 billion recognized in Italy, with a nominal value of € 750 million and a 7 years maturity, and testifies Terna’s constant commitment to the energy transition of the country and the excellence in sustainable finance.


            The Success Stories: A2A

            Discover more about the listing of the first European Green Bond issued by A2A, the first European corporate to issue this type of instrument in compliance with Regulation (EU) 2023/2631 under the EMTN Programme approved by Consob in December 2024, making A2A the first Italian issuer to take this step.
            The bond, issued on MOT market of Borsa Italiana, with a nominal value of 500 million euros, a maturity of 10 years and a fixed coupon of 3.625%, represents an important milestone as it confirms the centrality of the Italian financial market and its strategic role for the issuance of innovative ESG instruments.


            The Success Stories: Mediobanca

            Discover more about the event celebrating Mediobanca as the first banking issuer to launch an EMTN Program approved in Italy, with Italian-law securities centralized at Euronext Securities Milan. This achievement was made possible by the renewed authorization process adopted by Consob, which strengthens the revival of the domestic bond market and reaffirms Italy's pivotal role as an international financial hub for debt issuance.

            The Success Stories: A2A

            Discover more about the first EMTN bond Program repatriation issued by A2A, listed on the regulated MOT market. Thanks to a system effort, the program followed the renewed and simplified authorization process introduced by Consob, marking the return of one of the main players in green transition and underlining the new international centrality of the Italian debt market for companies that want to combine financial goals to ESG strategies.


            The Success Stories: Alerion Clean Power

            Discover more about Alerion Clean Power’s bond issuance regarding a green bond with a 6-year maturity that, throughout the market, gathered € 250 million. After 10 years from the corporate’s first distribution on MOT and the issuance of 7 bonds that collected over € 1 billion, investors’ trust and interest is ensured regarding the company's attention on topics such as sustainability and developing of renewable energies.



            The Success Stories: Snam

            Discover more about Snam's dual-tranche Sustainability-Linked bond issuance: £600 million with a 12-year maturity and €750 million with a 7-year maturity. These bonds are the first instruments issued by a large Italian corporate to be listed on the professional segment of the regulated MOT market of Borsa Italiana. For Snam, this transition to the MOT Professional segment marks a strategic evolution, highlighting the fruitful collaboration between Snam and Borsa Italiana and, more broadly, the increased international appeal and efficiency of the national financial market.


            The Success Stories: BCC Iccrea Group


            Discover more about the listing of the €750 million 5-year covered bond issued by BCC Iccrea Group on Borsa Italiana's professional segment of the regulated MOT market. These bonds, issued under a €5 billion program, followed the new authorization process introduced by Consob, marking the return of an Italian banking issuer to the domestic regulated market.


            The Success Stories: MAIRE

            Find out more about the Sustainability-Linked bond on the MOT market of Borsa Italiana. The bond, distributed directly through the market platform, has a duration of five years, an outstanding amount of EUR 200 million, and a fixed annual coupon of 6.5%. In addition, the coupon could be subject to changes linked to specific sustainability targets.



            The Success Stories: World Bank

            Learn more about the World Bank's Sustainable Development Bond listed on the MOT market of Borsa Italiana. The bond, aimed at Italian retail investors and with a duration of five years, has an outstanding amount of EUR 60m and a fixed annual coupon rate of 3.20%.


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            The Success Stories: Campari Group

            Discover more about the unrated bond on the Euronext Access Milan market of Borsa Italiana. The bond, aimed at institutional investors and with a duration of seven years, has an outstanding amount of EUR 300 million and a fixed annual coupon of 4.71%.



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