Avaya readies launch of $500 million term loan for Thursday

By Sara Rosenberg

New York, June 8 – Avaya is set to hold a lender call at 11 a.m. ET on Thursday to launch a $500 million first-lien term loan, according to a market source.

Goldman Sachs Bank USA is the left bookrunner on the deal.

Proceeds will be used to prefund the refinancing of the company’s existing $350 million convertible debt due June 2023, to provide additional liquidity for general corporate purposes and to pay transaction fees and expenses.

Avaya is a Santa Clara, Calif.-based provider of communication software and services for enterprises.

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