SANTA CLARA, Calif.--(BUSINESS WIRE)--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.
Cautionary Note Regarding Forward-Looking Statements
Certain of the statements contained in this release are “forward-looking statements.” All statements other than statements of historical fact are “forward-looking statements” for purposes of the U.S. federal and state securities laws. These statements may be identified by the use of forward looking terminology such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “plan, “project,” “target,” “can,” “could,” “may,” “should,” “will,” “would” or similar words. These forward-looking statements, which are based on the Company’s current plans, expectations and projections about future events, should not be unduly relied upon. These statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance and achievements to materially differ from any future results, performance and achievements expressed or implied by such forward-looking statements. These factors are discussed in the Company’s Registration Statement on Form 10 and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission (the “SEC”). For a further list and description of such risks and uncertainties, please refer to the Company’s filings with the SEC that are available at www.sec.gov. The Company cautions you that the list of important factors included in the Company’s SEC filings may not contain all of the material factors that are important to you. In addition, in light of these risks and uncertainties, the matters referred to in the forward-looking statements contained in this report may not in fact occur. The Company undertakes no obligation to publicly update or revise any forward-looking statement as a result of new information, future events, changed circumstances or otherwise, except as otherwise required by law.
Source: Avaya Newsroom