TeamSystem, a leading provider of digital cloud solutions for the financial management of business and electronic invoicing for micro, small and medium-sized enterprises and professionals in Italy, successfully completed the issue of a €700 million senior secured floating-rate bond maturing in 2031, the proceeds of which will be applied, inter alia, to refinance part of the company’s senior secured debt, as well as to support the further growth of the group through M&A transactions. The group also obtained commitments from certain investors to refinance the PIK Notes issued by the parent company of TeamSystem in an overall amount of €300 million.
In relation to the bond issue transaction, TeamSystem has also extended the term of its credit revolving facility and increased the relevant availability from €180 million to €300 million.

PedersoliGattai advised the bond subscribers with a team led by Gaetano Carrello (partner) and composed of Federico Tropeano (counsel), Matteo Zoccolan and Alessia Abate (associates) in relation to Italian law aspects as well as Cristiano Garbarini (partner) and Valentina Buzzi (counsel) for tax law aspects.