NEW ISSUE: TeamSystem €700m 6NC2 sr sec, IPT 6.75-7.00%, on the road
HYC European Market: Deal Flow - General
Issuer
Term
Call
Maturity
Size
Ranking
Type
IPT
TeamSystem S.p.A.
6NC2
2y
21-Jun-32
€700m
Snr Sec
Fixed
6.75-7.00%
IPTs: 6NC2: 6.75-7.00%
Issuer:TeamSystem S.p.A.
Sponsor: H&F
Business: Prominent European provider of AI-powered mission critical integrated SaaS solutions, enabling digital transformation for small, medium, and professional businesses across Italy, Spain, Türkiye, France, and Israel
Issue: Senior Secured Fixed Rate Notes due 2032
Size: €700m
Currency: EUR
Tenor: 6 years
Call Protection: NC2, 50%, Par
IPT: 6.75%-7.00%
UoP: 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
Covenants: Same as existing
Governing Law: New York
Format: 144A / Reg S For Life
Listing: Luxembourg Stock Exchange (Euro MTF)
Denominations: €100,000 / €1,000
Clearing: Euroclear / Clearstream
Global Coordinators and Physical Bookrunners: Goldman Sachs Bank Europe SE (B&D), JP Morgan
Joint Bookrunners: Barclays, BNP Paribas, BofA Securities, Deutsche Bank, IMI – Intesa Sanpaolo, Mediobanca, Morgan Stanley, Nomura, UBS Investment Bank, UniCredit
Timing: Investor Call today, Monday, 22-Jun-26, at 10.30 UKT / 11:30 CET