Avaya Inc. Announces Repricing of $2.918 Billion Senior Secured Term Loan

Avaya Holdings announced today that its wholly-owned subsidiary, Avaya
Inc., has successfully repriced its $2.918 billion senior secured term

“The repricing of this senior secured term loan reflects our improved
credit profile and will save Avaya over $14 million in annual cash
interest expense,” said Pat O’Malley, Avaya’s Senior Vice President and
Chief Financial Officer.

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

About Avaya

Avaya is a global leader in digital communications software, services
and devices for businesses of all sizes. Our open, intelligent and
customizable solutions for contact centers and unified communications
offer the flexibility of Cloud, on-premises and hybrid deployments.
Avaya shapes intelligent connections and creates seamless communication
experiences for our customers, and their customers. Our professional
planning, support and management services teams help optimize solutions,
for highly reliable and efficient deployments. Avaya Holdings Corp. is
traded on the NYSE under the ticker AVYA. For more information, please
visit www.avaya.com.

Cautionary Note Regarding Forward-Looking Statements

Certain of the statements contained in this release are
“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,” “plan, “project,” “target,” “can,” “could,” “may,” “should,”
“will,” “would” or similar words. These forward-looking statements,
which are based on the Company’s current plans, expectations and
projections about future events, should not be unduly relied upon. These
statements involve known and unknown risks, uncertainties and other
factors that may cause the Company’s actual results, performance and
achievements to materially differ from any future results, performance
and achievements expressed or implied by such forward-looking
statements. These factors are discussed in the Company’s Registration
Statement on Form 10 and Quarterly Reports on Form 10-Q filed with the
Securities and Exchange Commission (the “SEC”). For a further list and
description of such risks and uncertainties, please refer to the
Company’s filings with the SEC that are available at www.sec.gov.
The Company cautions you that the list of important factors included in
the Company’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 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, changed circumstances or
otherwise, except as otherwise required by law.

Source: Avaya Newsroom

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