Sponsors Hg, CPP Investments and Sofina have extended €1.1bn (£920m) of software provider Team.blue‘s senior debt to July 2032.
The transaction amends the majority of the Ghent-based company’s existing €1.35bn (£1.13bn) Term Loan B facility. Pro forma for the deal, approximately 90% of the group’s term debt will now mature in 2032.
Strong institutional appetite prompted the sponsors to upsize the refinancing twice from an initial €500m (£419m) launch target. The debt was priced on 22 October 2026 at 425 basis points over Euribor, with a 0% floor and an original issue discount of 98.5.
The borrower, which sells digital tools to small businesses, holds corporate ratings of B3 from Moody’s and B from S&P, both with stable outlooks.
Jonathan Thackray, chief financial officer of Team.blue, said: “We set out to extend €500m (£419m) of our Term Loan B and the depth of support from our institutional investor base allowed us to go much further. This reflects confidence in Team.blue‘s highly recurring, cash-generative model and our position as a leading digital partner for Europe’s SMBs.
“It gives us the flexibility to keep innovating and investing in the digital and AI-enabled tools our customers rely on.”
