News_Editor Posted June 10, 2011 Share Posted June 10, 2011 Telecom equipment manufacturer Avaya files for $1 billion IPO 2011-06-10 07:09:14 GMT+7 (ICT) BASKING RIDGE, NEW JERSEY (BNO NEWS) -- Telecom equipment manufacturer Avaya Holdings Corp. on Thursday announced that it had filed a registration statement with the U.S. Securities and Exchange Commission to launch an initial public offering (IPO) of $1 billion. Anaya, which is based in Basking Ridge, New Jersey, said it expects to use the net proceeds it receives from the the IPO of its common stock to, "among other things, pay down certain long-term indebtedness," but the company did not announce a scheduled date in which the common stock would go public. During the first sixth month's of the company's fiscal year, which ended on March 31, Avaya posted a revenue of $2.8 billion and a $615 million loss, which represents a debt of almost $200 million more compared to the same period one year ago. Its 2010 fiscal year had a $5.06 billion revenue, according to its IPO filing. The joint book-runners of the proposed offering will be Morgan Stanley & Co. LLC, Goldman, Sachs & Co., J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., BofA Merrill Lynch, Barclays Capital Inc., UBS Investment Bank and Credit Suisse Securities (USA) LLC. In September 2009, Avaya acquired Nortel's Enterprise division for $900 million, which closed later that December. -- © BNO News All rights reserved 2011-06-10 Link to comment Share on other sites More sharing options...
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