Published on 9/23/2022 in the Prospect News High Yield Daily.
New Issue: TeamSystem privately places €185 million secured floaters due 2028
By Paul A. Harris
Portland, Ore., Sept. 23 – TeamSystem SpA privately placed €185 million of Euribor plus 625 basis points senior secured floating-rate notes due 2028, according to a Thursday press release from the company.
The notes priced at par.
The Italy-based provider of technological support for business plans to use the proceeds to fund certain bolt-on acquisitions and/or to refinance any debt incurred for that purpose.
| Issuer: | TeamSystem SpA
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| Amount: | €185 million
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| Issue: | Senior secured floating-rate notes
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| Maturity: | 2028
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| Coupon: | Three-month Euribor plus 625 bps
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| Euribor floor: | 0%
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| Price: | Par
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| Announcement date: | Sept. 22
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| Settlement date: | Oct. 6
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| Distribution: | Private placement
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