TeamSystem SpA (TITANL)

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TeamSystem SpA (TITANL)

C/P	Industry	Status	Ticker(s)	Issuer(s)	Size(m)		Tranches	Region	Date
HYC	INDS	PRCD	TITANL	TeamSystem SpA	€700		1	EMEA	Jun 23, 2026

Tranche #1TeamSystem SpA

currency

EUR

size (m)

700.000

maturity

Jul 1, 2032

type

Fixed

tenor

6.000

call

2.00

registration

144A/Reg S

benchmark

DBR

ranking

Sr. Secured

moody's

s&p

fitch

size description

re-open/tap

ipt

6.75%-7.00%

ipt-pxd

guidance

6.50%-6.75%

spread

381

coupon

6.50%

spread set

price

100.00000

yield

6.50%

book size (m)

peak book (m)

x-covered

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

book size (m)

peak book (m)

x-covered

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

Tranche Comments

First Pay: 2026-10-15; Redemption: 2028-07-01; Registration: 144A/Reg S; Comments: Covenants: Yes. CoC: 101%;

Use of Proceeds

Redeem the EUR300m 3.5% Senior Secured Notes due 15-FEB-28 , repay drawn amounts under the Revolving Credit Facility, prefund existing earn-outs / deferred consideration due 2026 and pay transaction related fees and expenses

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	PRICED: TeamSystem EUR700m 6NC2 Sr Sec Notes 6.5% at 100	Jun 23, 2026
	PX TALK: TeamSystem €700m 6NC2 sr sec notes 6.50-6.75%, pxg today	Jun 23, 2026
	RATED: Mdys/S&P/Fitch rate TeamSystem €700m 6NC2 sr sec notes B2/B/B	Jun 22, 2026
	NEW ISSUE: TeamSystem €700m 6NC2 sr sec, IPT 6.75-7.00%, on the road	Jun 22, 2026

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