Paul Hastings Advised Funding Sources on TeamSystem’s €1.1 Billion High Yield Bond and RCF Financing

Paul Hastings LLP advised a syndicate of initial purchasers led by Goldman Sachs and BofA Securities, including BNP Paribas, J.P. Morgan, Morgan Stanley, Barclays, Deutsche Bank, IMI, Mediobanca, Nomura, UBS, and UniCredit, in connection with the successful offering of €700 million of senior secured floating rate notes due 2031 by TeamSystem S.p.A. The financing also consisted of an upsized €300 million revolving credit facility provided by certain affiliates of the initial purchasers as well as commitments from certain investors for €300 million of senior floating rate pay-if-you-want PIK toggle notes due 2032. TeamSystem is majority owned by Hellman & Friedman and is a leading provider of cloud-based enterprise resource planning, financial management system and e‑invoicing software in Italy.

Partners Patrick Bright and Mo Nurmohamed led the Paul Hastings team, which also included partners Ed Holmes and Karan Chopra, and associates Fabio Pazzini, Harry Lee, Luke Kavanagh, and Rebecca Bunyan.

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