Avaya Announces Upsize and Pricing of Its Senior First Lien Notes Offering

Sep 12, 2020

Avaya Holdings Corp. (NYSE: AVYA) (“Avaya”) today announced that in response to strong demand its wholly-owned subsidiary, Avaya Inc. (the “Company”) has upsized its previously announced private offering (the “offering”) of Senior First Lien Notes due 2028 (the “notes”). The Company also today priced the offering of $1 billion in aggregate principal amount of notes, which will bear cash interest at a rate of 6.125% per annum, payable semi-annually on March 15 and September 15, beginning on March 15, 2021. The notes will be the Company’s senior secured obligations and will be guaranteed on a senior secured basis by Avaya and each of the Company’s wholly-owned domestic subsidiaries that guarantee the Company’s term loan and asset-based revolving credit facilities.

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