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Avaya exits chapter 11 after completing debt restructure

Monday 18 December 2017 | 14:25 CET | News

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Avaya announced that it has successfully completed its debt restructuring process and emerged from chapter 11 around 11 months after applying for bankruptcy protection. In a statement, the company said it had managed to reduce its prior debt load by around USD 3 billion and now has more than USD 300 million in cash on its balance sheet. "This is the beginning of an important new chapter for Avaya," said company president and CEO Jim Chirico, adding that "in less than a year since the commencement of our chapter 11 restructuring, Avaya has emerged as a publicly traded company with a

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Categories: Fixed
Companies: Avaya
Countries: World
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