Avaya calls all $298.5 million LYONs

By Caroline Salls

Pittsburgh, Nov. 18 - Avaya Inc. will redeem all $298.5 million of its outstanding Liquid Yield Option Notes at a price of $545.67 per $1,000 principal amount at maturity, according to a company news release.

The redemption date is Dec. 20.

Holders can convert their LYONs into 37.4437 shares of Avaya common stock per $1,000 principal amount at maturity of LYONs before 5 p.m. ET on Dec. 20, the release said. Avaya's stock closed at $16.85 Wednesday.

Avaya is a Basking Ridge, N.J., provider of business communications software, systems and services.

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