Santa Clara, Calif. December 15, 2017 Avaya Holdings Corp. (Avaya or the Company) announced that it has successfully completed its debt restructuring and emerged from chapter 11.
This is the beginning of an important new chapter for Avaya, said Jim Chirico, Avayas president and CEO. In 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 compare…
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