team.blue extends €1.1 billion of its Term Loan B to 2032 in the largest software Euro term loan issuance in the last 12 months

Strong demand from a broad group of institutional investors enabled team.blue to upsize the transaction twice in-market, taking the final deal size to €1.1 billion from a minimum initial launch size of €500 million, despite recent credit market volatility.

Pro forma for the transaction, c.90% of team.blue’s term debt now matures in 2032.

The transaction comes at a time of significant momentum for team.blue, with continued double-digit revenue growth and strong cash generation supporting its deleveraging trajectory. Its products help Europe’s SMBs get online, get customers, get paid and stay compliant, and AI-enabled products are increasingly driving new customer growth. team.blue continues to innovate across its portfolio, from smarter tools within its brands to secure European cloud hosting built for customers’ growing AI workloads. Its category-leading SaaS brands are also integrating with leading AI assistants, bringing team.blue’s products to customers wherever they work.

Transaction highlights

• The largest software Euro term loan issuance in the last 12 months
• €1.1 billion Term Loan B, borrowed by team.blue Finco S.à r.l., maturing July 2032
• Priced at E + 425bps with a 0% floor and an OID of 98.5
• Upsized twice from an initial €500 million, reflecting a heavily oversubscribed order book
• Corporate and facility ratings of B3 (Moody’s) and B (S&P), both with stable outlooks
• BofA acted as Global Coordinator and Left Lead Physical Bookrunner, alongside Barclays. ABN AMRO, BNP Paribas, Citi, ING and J.P. Morgan acted as Bookrunners

Press contacts

• Annabel Hill, Head of Investor Relations, team.blue: annabel.hill@team.blue
• Cristina Caleffi, External Communications Specialist, team.blue: cristina.caleffi@team.blue