Avaya Holdings Corp. (\u201cAvaya\u201d or the \u201cCompany\u201d) announced that it has successfully completed its debt restructuring and emerged from chapter 11. <\/p>\n
\u201cThis is the beginning of an important new chapter for Avaya,\u201d said Jim Chirico, Avaya\u2019s president and CEO. \u201cIn less than a year since the commencement of our chapter 11 restructuring, Avaya has emerged as a publicly traded company with a significantly strengthened balance sheet. Overall, we reduced our prior debt load by approximately $3 billion, and we exit today with more than $300 million in cash on our balance sheet. The reduction of our debt and certain other long-term obligations will also improve annual cash flow by approximately $300 million compared to fiscal 2016.\u201d <\/p>\n
\u201cWe have the flexibility we need to invest in the large and growing contact center and unified communications markets as we complete our transformation to a software, services and cloud solutions provider,\u201d Chirico added. \u201cWith a new Board and leadership team firmly in place, Avaya is now well-positioned to execute on its growth plan and deliver the returns and value expected by our stakeholders.\u201d <\/p>\n
Avaya is taking the steps necessary to list on the New York Stock Exchange. The company expects to have approximately 110 million shares outstanding upon emergence. <\/p>\n
Centerview Partners LLC and Zolfo Cooper LLC are Avaya\u2019s financial and restructuring advisors and Kirkland & Ellis LLP is the company\u2019s restructuring counsel.<\/p>\n
-END-<\/p>\n
For further information, please contact:<\/p>\n
Peter BrantonDaniel Mercado<\/p>\n
AvayaASDA\u2019A Burson-Marsteller<\/p>\n
+971 4 404 8315+971 50 9095517<\/p>\n
pbranton@avaya.comdaniel.mercado@bm.com <\/p>\n
About Avaya<\/p>\n
Avaya enables the mission critical, real-time communication applications of the world\u2019s most important operations. As a global leader in delivering superior communications experiences, Avaya provides the most complete portfolio of software and services for contact center and unified communications\u2014 offered on premises, in the cloud, or a hybrid. Today\u2019s digital world requires communications enablement, and no other company is better positioned to do this than Avaya. For more information, please visit\u00a0www.avaya.com.<\/p>\n
Cautionary Note Regarding Forward-Looking Statements<\/p>\n
This document contains certain \u201cforward-looking statements.\u201d All statements other than statements of historical fact are \u201cforward-looking\u201d 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,” \u201cour vision,\u201d “plan,” “potential,” “preliminary,” “predict,” “should,” “will,” or \u201cwould\u201d or the negative thereof or other variations thereof or comparable terminology and include, but are not limited to, expected cash savings and statements about growth, exchange listing and improved operational metrics. The Company has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While the Company 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 the Company\u2019s Registration Statement on Form 10 filed with the Securities and Exchange Commission, may cause its actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. For a further list and description of such risks and uncertainties, please refer to the Company\u2019s filings with the SEC that are available at\u00a0www.sec.gov. The Company cautions you that the list of important factors included in the Company\u2019s 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 report may not in fact occur. The Company 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.<\/p>\n
Source: Avaya Newsroom<\/p>\n","protected":false},"excerpt":{"rendered":"
Avaya Holdings Corp. (\u201cAvaya\u201d or the \u201cCompany\u201d) announced that it has successfully completed its debt restructuring and emerged from chapter 11. \u201cThis is the beginning of an important new chapter for Avaya,\u201d said Jim Chirico, Avaya\u2019s president and CEO. \u201cIn less than a year since the commencement of our chapter 11 restructuring, Avaya has emerged […]<\/p>\n","protected":false},"author":8,"featured_media":7189,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_yoast_wpseo_meta-robots-noindex":"","_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_pr_autopilot_social_copy":"","_yoast_wpseo_opengraph_title":"","_yoast_wpseo_opengraph_description":"","_yoast_wpseo_opengraph_image":"","_yoast_wpseo_opengraph_image_id":0,"_yoast_wpseo_twitter_title":"","_yoast_wpseo_twitter_description":"","_yoast_wpseo_twitter_image":"","_yoast_wpseo_twitter_image_id":0,"_yoast_wpseo_primary_category":0,"_extra_hide_author_box":"","_extra_featured_post":"","_partner_post_id":0,"footnotes":""},"categories":[24],"tags":[],"class_list":["post-7190","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","et-has-post-format-content","et_post_format-et-post-format-standard"],"yoast_head":"\n