TeamSystem, an Italian B2B software publisher backed by Hellmann&Friedmann, Silver Lake Partners, ADIA, and CapitalG, has successfully completed a refinancing deal exceeding 2 billion euros. This includes a private placement of a 350 million euro Pay-If-You-Want PIK toggle bond, maturing on July 7, 2033. The funds will be used for dividend payments and transaction costs, alongside extending the maturity of a previous 300 million euro senior PIK toggle bond from 2032 to 2033.

The proceeds from this issuance will help repay 850 million euros in senior secured bonds due in 2028, as well as finance mergers and acquisitions and other liabilities. TeamSystem has also increased its revolving credit line from 300 million to 350 million euros. Legal support for the transaction was provided by Latham & Watkins and Maisto e Associati, while the investors engaged PedersoliGattai.

In another development, DOC Pharma, previously known as DOC Generici and backed by TPG and ICG, has listed two senior secured bonds totaling 990 million euros on the Luxembourg Stock Exchange. One bond, maturing in 2032, is valued at 400 million euros with a coupon of 3M Euribor + 362.5 bps, while the other is worth 590 million euros with a 5.625% coupon. The proceeds will be used to repay existing senior secured bonds of 973 million euros maturing in 2028.

Dolce & Gabbana, the renowned Italian fashion house, has secured a mid-long-term financing facility of 100 million euros, with Sace providing a 50% warranty. The company has also renegotiated terms on liabilities amounting to 400 million euros, with legal advice from Molinari for the lenders involved.

Italian steel producer Arvedi, owner of Acciai Speciali Terni, has received financing facilities totaling 900 million euros from undisclosed lenders, with SACE backing a 350 million euro term credit line. Legal assistance was provided by BonelliErede.

Investindustrial has merged its food producers CSM Ingredients and Italcanditi under a new entity called Nexture, which issued a senior secured bond of 425 million euros maturing in seven years, with a coupon of 3M Euribor + 400 bps. The proceeds will refinance existing liabilities, and Nexture has also secured an 80 million euro super senior secured revolving credit line. Fitch Ratings assigned a B+ rating to the issuer and a BB- rating to the bond, while Moody’s rated the company B2.

Jakala, a martech firm backed by Ardian and other investors, has issued a 30 million euro bond maturing in 2031, with an 8.5% coupon. The funds will be directed towards organic growth and international expansion, as stated by Jakala’s founder and chairman.

Lastly, Gruppo Ligabue, an Italian food service and life support company, has attracted a 50 million euro credit facility to support its operations. This financing landscape reflects the ongoing activity and strategic maneuvers within the Italian private equity sector.