Avaya to redeem its 10 1/8%/10 7/8% and 9¾% notes due 2015 in full

By Tali Rackner

Norfolk, Va., April 15 - Avaya Inc. plans to redeem all $92.4 million of its 10 1/8%/10 7/8% senior PIK toggle notes due 2015 and all $57.6 million of its 9¾% senior notes due 2015, according to an 8-K filing with the Securities and Exchange Commission.

The notes will be redeemed at par plus accrued interest on May 15.

The redemptions will be funded through existing resources and may include any or a combination of cash on hand and borrowings under the company's revolving credit facilities.

Avaya is a Basking Ridge, N.J.-based provider of business collaboration and communications services.

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