Avaya Repurchases $131.6M of Senior Secured Notes

Avaya completed cash repurchases of $131.6 million in principal amount of its 11 1/8% senior secured notes during its third fiscal quarter. As a result of the repurchase, the company expects to record a one-time, pre-tax loss of $21.0 million for the third quarter.



"These repurchases are consistent with Avaya's objectives of reducing our long-term debt and de-leveraging our balance sheet," said Garry McGuire, chief financial officer, Avaya. http://www.avaya.com