The software company Teamviewer has issued a borrower’s note worth EUR 300 million with a sustainability component. The interest margin on the loan is linked to the company’s development in the areas of environmental, social and governance (ESG). The tranches have terms of three, five, seven and ten years and were placed at the lower end of the price range, so that an average interest margin of 1.2 percent could be achieved, as Teamviewer reports. Commerzbank, ING and LBBW arranged the transaction. The proceeds from the issue are to be used for general corporate purposes, among other things.
In addition, the British financial investor Permira, to which Teamviewer belongs, about its company Tiger Lux One (TLO) 13.2 million Teamviewer shares placed with institutional investors in an accelerated bookbuilding process. The placement price was EUR 44.50 per share, which corresponds to around 6.6 percent of Teamviewer’s share capital. The total volume of the transaction was therefore 587.4 million euros. Permira received legal advice from the law firm Freshfields on the placement.
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