Santa Clara, Calif., — June 18, 2018 – Avaya Holdings announced today that its wholly-owned subsidiary, Avaya Inc., has successfully repriced its $2.918 billion senior secured term loan.
“The repricing of this senior secured term loan reflects our improved credit profile and will save Avaya over $14 million in annual cash interest expense,” said Pat O’Malley, Avaya’s Senior Vice President and Chief Financial Officer.
The repricing of the term loan which matures in 2024 reduces the interest rate from LIBOR plus 4.75% to LIBOR plus 4.25% per annum and reduces the LIBOR floor from 1% to 0%. The repricing was led by J.P. Morgan and Goldman Sachs Bank USA as joint lead bookrunners and arrangers.
Avaya is a global leader in digital communications software, services and devices for businesses of all sizes. Our open, intelligent and customizable solutions for contact centers and unified communications offer the flexibility of Cloud, on-premises and hybrid deployments. Avaya shapes intelligent connections and creates seamless communication experiences for our customers, and their customers. Our professional planning, support and management services teams help optimize solutions, for highly reliable and efficient deployments. Avaya Holdings Corp. is traded on the NYSE under the ticker AVYA. For more information, please visit www.avaya.com
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Source: Avaya Newsroom