Avaya Holdings (AVYA) Files Chapter 11

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Go back to Avaya Holdings (AVYA) Files Chapter 11

Avaya Takes Action to Accelerate Transformation and Fortify Capital Structure

February 14, 2023 12:45 PM EST

Secures Approximately $780 Million in Committed Financing; New Capital Will Accelerate Investment in Avayas Leading Cloud Communications Portfolio

Enters Agreement to Eliminate More Than 75% of Debt and Substantially Increase Cash and Liquidity

Initiates Expedited, Prepackaged Financial Restructuring via Chapter 11 with Overwhelming Support of Financial Stakeholders

Expects to Complete Process in 60 to 90 Days; Paying Vendors and Suppliers in Full and Paying Employees as Usual

Extends and Expands Strategic Partnership with RingCentral to Build on Success of Avaya Cloud... More