Latham & Watkins Advises TeamSystem and Hellman & Friedman on €700 Million Senior Secured Notes Offering

Latham & Watkins has advised TeamSystem, the leading provider of cloud-based mission critical ERP, financial management system and e-invoicing software for micro, small, and mid-market businesses as well as professional customers in Italy, on the issuance of €700 million senior secured floating rate notes due 2031.

Latham & Watkins has also advised TeamSystem on the increase in size from €180 million to €300 million and the extension of the maturity of its existing revolving credit facility with primary lending institutions as well as in connection with the obtainment of commitments from certain investors to refinance €300 million aggregate principal amount of PIK Notes issued by the direct parent company of TeamSystem.

The Latham & Watkins team was led by corporate partners Jeff Lawlis and Paolo Bernasconi and associate Michele Vangelisti, with US capital markets associates Loran Radovicka and Edoardo Picchi (and Ivan Pizeta with respect to the activities on the PIK Notes). Advice was also provided on Italian finance matters by partners Marcello Bragliani and Alessia De Coppi with associate Simona Di Marcantonio; on English finance matters by partner Dominic Newcomb with counsel William Lam and associates Zahra Haji and Nicole Louise Courtney; on Italian capital markets matters by associate Marco Bonasso; on Italian regulatory matters by partner Cesare Milani with associates Edoardo Cassinelli and Irene Terenghi; and on US tax matters by partner Jocelyn Noll with associate Sam (Seung Hyun) Yang.