Mitel Networks to pay down $15 million of credit facility borrowings

By Wendy Van Sickle

Columbus, Ohio, March 31 – Mitel Networks Corp. planned to pay $15 million of debt outstanding under its credit facility on Thursday, according to a press release.

This is the company’s second voluntary debt repayment this year, bringing the total amount repaid in 2016 to $40 million.

“Consistent with our commitments to shareholders, we are taking cash generated during the March quarter in excess of our working capital requirements to make our second voluntary debt reduction payment in 2016,” Steve Spooner, Mitel chief financial officer, said in the release.

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

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