Avaya amends, allowing $500 million in dividend payments, distributions or share repurchases

By Sara Rosenberg

New York, Sept. 8 - Avaya Inc. amended its credit facility on Friday, allowing for the use of an additional $500 million during Oct. 1, 2006 through Sept. 30, 2008 for dividend payments, distributions or repurchases of common stock, according to an 8-K filed with the Securities and Exchange Commission.

In addition, the amendment gives the company additional flexibility to make share repurchases in the future should the board authorize those repurchases.

Citicorp is the agent on the deal.

Avaya is a Basking Ridge, N.J.-based provider of communication systems, applications and services.

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