IR Releases

TeamViewer places EUR 300m ESG-linked Schuldschein loan
 

• Transaction upsized to meet strong local and international demand for maturities up to ten years
• Priced at low end of guidance with an average interest margin of 1.2%
• First ESG-linked Schuldschein loan in the software sector underlines TeamViewer's commitment to sustainability. Margin gains from improving ESG score to be devoted to sustainability initiatives

Goppingen, 18 February 2021: TeamViewer has successfully placed a EUR 300m Schuldschein loan with interest margins linked to the company's environmental, social and governance (ESG) performance.

Due to significant oversubscription and high interest from German and international banks and institutional investors, the transaction was upsized from EUR 150m to EUR 300m. All tranches with maturities of three, five, seven and ten years priced at the low end of guidance, resulting in an average interest margin of 1.2%.

Despite TeamViewer's overall low ESG risk according to Sustainalytics, a market leading provider of ESG ratings, the company has identified specific ESG areas with improvement potential and has linked the margin of the Schuldschein loan to an increase of the Sustainalytics ESG Management Score. Possible interest savings will be invested in sustainability initiatives.

TeamViewer intends to use the proceeds for general corporate purposes, including funding its comprehensive growth initiatives, as well as to partially repay existing financial liabilities.

"Our successful Schuldschein loan debut diversifies TeamViewer's funding sources at very attractive terms and demonstrates the confidence in our business model combining strong growth with high profitability and cash flow. Linking the margin to the ESG score incorporates our ambitious sustainability agenda in TeamViewer's financing strategy now as well.", said Carsten Keller, Head of Investor Relations and Capital Markets.

Following the optimisation of the revolving credit and term loan facilities, this placing is TeamViewer's second transaction within six months to further improve its debt structure, reflecting the rapid deleveraging and significantly enhanced credit profile since the company's IPO in September 2019.

The transaction was arranged by Commerzbank, ING and LBBW.

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About TeamViewer

TeamViewer is a leading global technology company that provides a connectivity platform to remotely access, control, manage, monitor, and repair devices of any kind - from laptops and mobile phones to industrial machines and robots. Although TeamViewer is free of charge for private use, it has more than 550,000 subscribers and enables companies of all sizes and from all industries to digitalize their business-critical processes through seamless connectivity. Against the backdrop of global megatrends like device proliferation, automation and new work, TeamViewer proactively shapes digital transformation and continuously innovates in the fields of Augmented Reality, Internet of Things or Artificial Intelligence. Since the company's foundation in 2005, TeamViewer's software has been installed on more than 2.5 billion devices around the world. The company is headquartered in Goppingen, Germany, and employs more than 1,300 people globally. In 2020, TeamViewer achieved billings of EUR 460m. TeamViewer AG (TMV) is listed at Frankfurt Stock Exchange and belongs to the MDAX. Further information can be found at www.teamviewer.com.

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