Support from a majority of existing lenders and $124.5 million in new financing will increase liquidity to optimize business operations and capitalize on the hybrid communications market opportunity Balance sheet to be deleveraged by approximately $1.15 billion and annual cash interest expense to be reduced by approximately $135 million Company to continue to provide global […]
Mitel Networks Corporation has agreed with lenders and stakeholders to recapitalize its debt, aiming to optimize operations and drive growth. The company has commenced a prepackaged plan of reorganization under Chapter 11 in the U.S. with support from lenders, and has secured $60 million in DIP financing and a commitment for $64.5 million in exit financing. Mitel will continue normal operations during the process.
