Avaya amends loan, extending tenor, lowering rates

By Sara Rosenberg

New York, May 30 - Avaya Inc. amended its credit facility, extending the maturity date to May 24, 2011 and reducing interest rates, according to an 8-K filed with the Securities and Exchange Commission Tuesday.

Under the amendment, borrowings can now carry an interest rate anywhere from Libor plus 62.5 to 175 basis points and the commitment fee can range anywhere from 12.5 to 50 bps, depending on ratings.

The amendment was completed on May 26.

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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