Avaya Announces Notes Offering
September 08 2020 - 7:30AM
Business Wire
Avaya Holdings Corp. (NYSE: AVYA) (“Avaya”) today announced that
its wholly-owned subsidiary, Avaya Inc. (the “Company”), is
offering $750 million in aggregate principal amount of Senior First
Lien Notes due 2028 (the “notes”) in a private offering (the
“offering”). The notes will bear cash interest semi-annually
beginning in 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.
The Company intends to use the proceeds from the offering to
repay, repurchase or otherwise make certain payments in respect of
outstanding indebtedness under its term loan credit facility and
pay related fees, costs, and expenses. The offering is subject to
market conditions.
The notes and the related guarantees are being offered to
persons reasonably believed to be qualified institutional buyers in
reliance on Rule 144A under the Securities Act of 1933, as amended
(the “Securities Act”), and to non-U.S. persons outside the United
States pursuant to Regulation S under the Securities Act. The notes
and the related guarantees have not been and will not be registered
under the Securities Act, any state securities laws or the
securities laws of any other jurisdiction. Accordingly, the notes
and the related guarantees may not be offered or sold in the United
States absent registration or an applicable exemption from
registration requirements under the Securities Act and any
applicable state or other jurisdiction’s securities laws.
A confidential offering memorandum for the offering of the notes
and the related guarantees, dated as of today, is being made
available to such eligible persons. The offering is being conducted
in accordance with the terms and subject to the conditions set
forth in such confidential offering memorandum.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Avaya
Businesses are built by the experiences they provide, and every
day millions of those experiences are delivered by Avaya Holdings
Corp. (NYSE: AVYA). Avaya is shaping what's next for the future of
work, with innovation and partnerships that deliver game-changing
business benefits. Our cloud communications solutions and
multi-cloud application ecosystem power personalized, intelligent,
and effortless customer and employee experiences to help achieve
strategic ambitions and desired outcomes. Together, we are
committed to help grow your business by delivering Experiences that
Matter.
Cautionary Note Regarding Forward-Looking Statements
This press release contains certain “forward-looking
statements.” All statements other than statements of historical
fact are “forward-looking” statements for purposes of the U.S.
federal and state securities laws. These statements may be
identified by the use of forward looking terminology such as
"anticipate," "believe," "continue," "could," "estimate," "expect,"
"intend," "may," "might," “our vision,” "plan," "potential,"
"preliminary," "predict," "should," "will," or “would” or the
negative thereof or other variations thereof or comparable
terminology. Avaya has based these forward-looking statements on
its current expectations, assumptions, estimates and projections.
While Avaya believes these expectations, assumptions, estimates and
projections are reasonable, such forward-looking statements are
only predictions and involve known and unknown risks and
uncertainties, many of which are beyond its control. The factors
are discussed in Avaya’s Annual Report on Form 10-K and subsequent
quarterly reports on Form 10-Q filed with the Securities and
Exchange Commission (the “SEC”) available at www.sec.gov, and may
cause Avaya’s actual results, performance or achievements to differ
materially from any future results, performance or achievements
expressed or implied by these forward-looking statements. Avaya
cautions you that the list of important factors included in Avaya’s
SEC filings may not contain all of the material factors that are
important to you. In addition, in light of these risks and
uncertainties, the matters referred to in the forward-looking
statements contained in this press release may not in fact occur.
Avaya undertakes no obligation to publicly update or revise any
forward-looking statement as a result of new information, future
events or otherwise, except as otherwise required by law.
Source: Avaya Newsroom
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version on businesswire.com: https://www.businesswire.com/news/home/20200908005543/en/
For media inquiries: Forrest Monroy fwmonroy@avaya.com
For investor inquiries: Mike McCarthy mikemccarthy@avaya.com
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