Avaya sets investor call, to price $290 million secured notes Tuesday

By Paul A. Harris and Aleesia Forni

Columbus, Ohio, Dec. 18 - Avaya Inc. will hold an investor call at 11:30 a.m. ET on Tuesday ahead of pricing a $290 million issue of senior secured notes due April 1, 2019 (expected ratings B1/B) later in the session, a market source said.

Citigroup Global Markets Inc. is the left bookrunner.

Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are the joint bookrunners.

Bank of America Merrill Lynch, Barclays, Goldman Sachs & Co. and UBS Securities LLC are the co-managers.

The Rule 144A for life notes will be non-callable until April 1, 2015 and carry a 101% poison put.

Proceeds will be used to repay the company's term loans.

Avaya is a Basking Ridge, N.J.-based provider of business collaboration and communications services.

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