TeamSystem allocates but awaits stragglers’ commitments
Bankers working on HgCapital’s takeover of Italian software company TeamSystem are still waiting for two stragglers to confirm their commitments to the facility, although the rest of the deal has already been allocated.
Syndication of the Eu269m financing should finish this week, almost a month after the original commitment date of October 7 was waived. Bankers had been relaxed about the deal, although one admitted that it had “dragged on”.
Italian and non-Italian banks and funds have committed, leaving the loans slightly
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