US EditionMitel Out of Creditor Protection as Firm Slashes Debt, Brings in US$125M in New Funding
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Mitel out of creditor protection as firm slashes debt, brings in US$125M in new funding
Mitel Networks has completed a financial restructuring plan that will slash its debt and provide the company with US$125 million in new funding. The prepackaged agreement with a group of senior lenders, certain junior lenders and other investors to recapitalize Mitel’s debt was approved in April by the U.S. Bankruptcy Court for the Southern District […] Already an Insider? Log in Get Instant Access to This Article Become an Ottawa Bu…
In March 2025, Mitel initiated the restructuring of its corporate debt. As part of the process, the UCC provider reduced its liabilities by $1.15 billion and is now trying to look ahead.
Unable to honour all of its debts, Mitel was placed preventively under the protection of Chapter 11 of the US Bankruptcy Act in March. Following the short schedule announced, the corporate communications specialist finalized his financial restructuring on 20 June and came out with a clean balance sheet. As expected in [...] The post Mitel completes its financial restructuring and exits from Chapter 11 appeared first on ChannelNews.
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