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Avaya repays portion of first-lien term loans, extends remainder
By Taylor Fox
New York, Sept. 25 – Avaya Holdings Corp. repaid and/or repurchased outstanding indebtedness under its existing senior secured first-lien term loans due December 2024, according to a news release.
The repayment was funded using proceeds from Avaya’s $1 billion senior first-lien note offering. The proceeds also paid related fees, costs and expenses related to the repayment.
The maturity of the remaining $800 million of the existing first-lien term loan not repaid or repurchased was extended to December 2027.
Avaya also extended the maturity of its asset-based revolving facility to September 2025 from December 2022 and reduced the commitments under that facility to $200 million from $300 million.
Avaya is a Santa Clara, Calif.-based provider of digital communications software, services and devices.
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