TeamSystem taps €130m for acquisition

Software
By Stefanie Linhardt
16 Apr 2014

TeamSystem, the Italian software designer and distributor, has sold a €130m tap of its 7.375% 2020 bond to finance its acquisition of 24Ore Software.

The tap of the €300m senior secured deal was priced at 105.75 to yield 5.765% on Wednesday. It will be fungible after 40 days. The B2/B- rated notes were initially sold in April last year.

According to a banker close to the deal, the bond had been ...

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