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Most of the existing loans and new financing will increase support, optimize $ 124.5 million dollars, and increase the liquidity in the hybrid communication market
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Annual cash interest expenditures will be reduced to reduce about $ 1.15 billion, about $ 135 million
The company will continue to provide customers to provide leading and reliable communication and cooperation solutions to the global market; Operations will continue in the usual course
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The sellers are expected to be fully paid
Sunnyvale, Calif, Calif.
The capital structure of the right-sized MITEL’s capital structure, the company’s most demanding areas and geographies, the most required enterprise and geography customers will allow the growing needs of hybrid communication solutions, but also to support the long-term work strategy, although it is supported by the most in more than 100 countries.
Fulfilling the obligations to Mitel, customers, partners and other stakeholders, will continue to operate in a regular course throughout the financial reorganization process. With the support of the ad HOC Group and other key stakeholders, Mitel expects this rapidly, a rational process with a minimum break to customers, employees, sellers or partners.
“For more than 50 years, the mitel adapted to the communications industry and the changing communications industry, and formed how organizations in the world join and communicate,” said Mitel’s CEO Tarun Loomba. “We are confident in the steps we have stepped up to optimize our capital structure, our strengths will be able to develop and develop technologies to enter and develop technologies and developing technology. Expect to strengthen meaningful ties and solve growing advantages in the world scale, growing advantages for hybrid communication solutions. “
Determination of the company and its branches to implement the reconstruction operation, the US Bankruptcy Court in the US Bankruptcy Court in the US Bankruptcy Coder in Chapter 11 of the Bankruptcy Code. Mitel operations that selected the work segments in the United Kingdom, Canada, Canada and the UK, do not include chapters in 11 chapters. Mitel’s global work will continue in normal course.
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Mitel has committed to finance $ 60 million in debt (“dip”) to further strengthen the process of reconstructing lender of supporting lenders. After approval by the court, DIP financing and the company’s existing business capital will provide liquidity to support daily operations in Chapter 11. Mitel also received a commitment to financing $ 64.5 million after the consumption of the plan to support the company’s forward operations. This process will result in about $ 1.15 billion in the company’s balance sheet, the annual cash interest expenditure will result in about $ 135 million.
As part of the process of chapter 11, the company asked for rapid relief through custom funds to protect Mitel’s ordinary course operations. With the terms of the requests, the workers will continue to be paid as usual and continue without violating their benefits. In addition, companies, vendors, suppliers and other trading partners, as well as the bankruptcy court, which allows you to make timely payments to other trading partners before the date of information and services.
The company is represented as an investment banker as a financial advisor and PJT partners as Paul, Weiss, Rifkind, Wharton & Garrison LLP, Financial Adviser, FTI Consulting, Inc. Ad hoc group is recommended as an investment banker as a legal adviser and PERELLA Weinberg partners by Davis Polk & Wardwell LLP.
For more information on the construction of Mitel, visit, visit www.mitel.com/about/finalcial-restrusturing, Fights.TretTo.com/mitel or call (855) 704-1401 (US and Canada); or (949) 570-9105 (International).
About Mitel
MITEL is a global leader in the field of business communication, provides a business with advanced communication, cooperation and contact center solutions. More than 70 million users in more than 100 countries, both and organizations to develop for both and future, and organizations strengthen organizations to communicate and cooperate. Provides communication without compromising mitel through proven experience and innovative solutions. Go for more information www.mitel.com and follow us Linkedin and x @Mitel.
MITEL MITEL NETWORKS is a registered trademark of Corporation.
All other trademarks are the property of their respective owners.
See the Source version at BusinessWire.com: https://www.businesswire.com/news/Home/20250309352600/en/
Contacts
Media Contact:
Pr@mitel.com
Rachel Cesley / Diana Sangiorio
Mitelcommunication@fticonsulting.com
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