Spread Research - TEAMSYSTEM- NEW ISSUE COMMENT

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Spread Research

Jean-Rene Meduri

EUR 407.14 For Business Accounts Only

TEAMSYSTEM- NEW ISSUE COMMENT

TeamSystem, an Italian ERP and business management software solutions provider, is marketing €750m dual-tranche of 5Y (expected €550m) and 7Y (€200m preplaced) senior secured floating-rate notes. The proceeds, along with €12m of cash, will be used to refinance all existing notes including €150m of 2023 senior FRN issued by Barolo Midco, and €570m of 2022 senior secured FRN issued by Barolo Bidco.

21/03/2018 11 EN

Provider

Spread Research

Spread Research is France's first Rating Agency, registered by ESMA (European Securities and Markets Authority) and a leading European Independent Credit Research firm, founded in 2004 and based in Lyon, France. Our experienced team offer key research services using a wide range of investment strategies and research methodologies for the High Yield, Emerging Markets, Convertibles and Loan Markets.

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Analysts

Jean-Rene Meduri

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TEAMSYSTEM- NEW ISSUE COMMENT

Gamenet 2q18 - sport payout change offsets regulation impact, goldbet to boost profitability

INTRALOT- Special Comment

IQVIA- 2Q18 Comments

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