Mitel to make voluntary $25 million prepayment against credit facility

By Tali Rackner

Norfolk, Va., Feb. 12 – Mitel Networks Corp. announced that it will make a voluntary $25 million payment against its existing credit facility, according to a press release.

The company said the payment is consistent with its commitment to shareholders and the investment community to use surplus cash reserves to reduce debt.

“Mitel continues to drive strong cash flows given the attractive synergies being realized through our integration programs and the highly disciplined, leveraged business model we use to manage our operations,” chief financial officer Steve Spooner said in the release. “We are taking advantage of our strong cash position to make another $25 million debt reduction payment.”

Mitel is a Kanata, Ont.-based provider of cloud- and premises-based unified communications software solutions.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.