Italy’s TeamSystem calls 7 3/8% senior secured notes due 2020

New York, Feb. 19 – TeamSystem SpA said that its parent company TeamSystem Holdings SpA will redeem its €430 million of 7 3/8% senior secured notes due 2020 on March 1.

The redemption is subject to completion of the sale of the company to Barolo Bidco SpA and receipt of funds to cover the cost of repaying the notes, according to a notice.

Holders will receive par plus a make-whole premium plus accrued interest to the redemption date.

TeamSystem is a Milan, Italy-based developer and distributor of software and services targeting businesses, accountants, employment consultants, law firms, building managers and associations.

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