Avaya reprices USD 2.918bn senior secured term loan

Avaya Holdings has announced that its wholly owned subsidiary, Avaya Inc., has successfully repriced its USD 2.918 billion senior secured term loan.

The repricing of the term loan which matures in 2024 reduces the interest rate from LIBOR plus 4.75% to LIBOR plus 4.25% per annum and reduces the LIBOR floor from 1% to 0%.

The repricing was led by J.P. Morgan and Goldman Sachs Bank USA as joint lead bookrunners and arrangers.

Avaya is a global provider of digital communications software, services and devices for businesses of all sizes. For more information, visit www.avaya.com.