Registration: 144A/Reg S; Comments: 01/27/2021 Brunello Bidco SpA (TeamSystem) (TITANL) EUR1.150bn 144A/Reg S sr sec 1st lien notes fixed/floating 2-part. B3/B-/B+ (stable/stable/stable). Via JPM (B&D) gloco/Barc/BNP/BofA/DB/GS/MS/Nomura/UniCredit joint books. List Lux. NY law. No reg rights. Settles 02/10 (T+10). Tranche sizes were EUR300m minimum. - EUR300m fixed rate notes due 02/15/28 (7y). NC3 (MWC B+50bp), then at 101.750, 100.875, 100. Equity claw: 3y 40% at 103.50. Special call: 10% per year the first 3 years at 103. Semi pay. Reg S ISIN: XS2295690742. IPT: low 4s. Px talk: 3.75% area. Final size/pricing: EUR350m at 3.50%. Priced: 3.50% at 100. +422bp vs DBR 0.50% 02/15/28. - EUR850m floating-rate due 02/15/28 (7y). NC1 (MWC B+50bp), then at 100. IPT: low 4s. Quarterly pay. Reg S ISIN: XS2295691633. Px talk: 3mE+400bp area (0% floor) at 100. Final size/pricing: EUR850m at 3mE+375bp (0% floor) at par. Priced: 3mE+375bp (0% floor) at 100. Did investor call at 1pm UKT 01/25, 1x1 virtual meetings available through 01/27. Books closed at 2:30pm UKT 01/27. UOP: to fund the recap of TeamSystem by Hellman & Friedman from another Hellman & Friedman fund and HgCapital for a EUR1.994bn purchase price, also refinancing existing debt (the redemption of its EUR200m sr sec FRN 2025 and EUR550m sr sec FRN due 2023) and the EUR125m purchase of shares of certain subsidiaries of TeamSystem SpA held by minority shareholders (ownership after the transaction: H&F 85%, HgCapital 8%, management 7%). The new equity contribution is EUR1.777bn. Biz: leading provider of mission critical ERP, business management and e-invoice software for SME, microbusiness, professional customers in Italy. HQ: Milan, Italy.; Registration: 144A/Reg S; Comments: 01/27/2021 Brunello Bidco SpA (TeamSystem) (TITANL) EUR1.150bn 144A/Reg S sr sec 1st lien notes fixed/floating 2-part. B3/B-/B+ (stable/stable/stable). Via JPM (B&D) gloco/Barc/BNP/BofA/DB/GS/MS/Nomura/UniCredit joint books. List Lux. NY law. No reg rights. Settles 02/10 (T+10). Tranche sizes were EUR300m minimum. - EUR300m fixed rate notes due 02/15/28 (7y). NC3 (MWC B+50bp), then at 101.750, 100.875, 100. Equity claw: 3y 40% at 103.50. Special call: 10% per year the first 3 years at 103. Semi pay. Reg S ISIN: XS2295690742. IPT: low 4s. Px talk: 3.75% area. Final size/pricing: EUR350m at 3.50%. Priced: 3.50% at 100. +422bp vs DBR 0.50% 02/15/28. - EUR850m floating-rate due 02/15/28 (7y). NC1 (MWC B+50bp), then at 100. IPT: low 4s. Quarterly pay. Reg S ISIN: XS2295691633. Px talk: 3mE+400bp area (0% floor) at 100. Final size/pricing: EUR850m at 3mE+375bp (0% floor) at par. Priced: 3mE+375bp (0% floor) at 100. Did investor call at 1pm UKT 01/25, 1x1 virtual meetings available through 01/27. Books closed at 2:30pm UKT 01/27. UOP: to fund the recap of TeamSystem by Hellman & Friedman from another Hellman & Friedman fund and HgCapital for a EUR1.994bn purchase price, also refinancing existing debt (the redemption of its EUR200m sr sec FRN 2025 and EUR550m sr sec FRN due 2023) and the EUR125m purchase of shares of certain subsidiaries of TeamSystem SpA held by minority shareholders (ownership after the transaction: H&F 85%, HgCapital 8%, management 7%). The new equity contribution is EUR1.777bn. Biz: leading provider of mission critical ERP, business management and e-invoice software for SME, microbusiness, professional customers in Italy. HQ: Milan, Italy.;