The company priced US$350 million ($506 million) in aggregate principal amount of new Senior Secured Term Loans (“Term Loan”) and entered into agreements for the private placement of Us$250 million ($361 million) in aggregate principal amount of Exchangeable Senior Secured Notes (“Notes”), all due in 2027.
The combined principal amount of the offerings was raised from the previously announced offering size of $500 million ($723 million) due to increased demand.
The closing of each transaction is expected to occur substantially concurrently and is subject to market and customary closing conditions.
“This funding supports and accelerates our business model transformation and addresses our convertible notes maturing in June of next year.”
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Businesses are built by the experiences they provide, and everyday millions of those experiences are delivered by Avaya. Avaya is shaping what's next for the future of work, with innovation and partnerships that deliver game-changing business benefits. Our cloud communications solutions and multi-cloud application ecosystem power personalised, intelligent, and effortless customer and employee experiences to help achieve strategic ambitions and desired outcomes. Together, we are committed to help grow your business by delivering experiences that matter.