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Avaya talks $750 million eight-year first-lien notes at 6¼% area; pricing Friday
By Paul A. Harris
Portland, Ore., Sept. 10 – Avaya Holdings Corp. talked its $750 million offering of eight-year senior first-lien notes (B2/B/BB-) to yield in the 6¼% area, according to market sources.
Official talk comes inside of initial guidance in the mid-6% area.
The Rule 144A and Regulation S deal is expected to price on Friday.
J.P. Morgan Securities LLC is the lead.
The notes come with three years of call protection.
The Santa Clara, Calif.-based business communications services provider plans to use the proceeds to repay bank debt.
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