What did Avaya’s bosses know and when did they know it? The troubled US telecom company raised $600mn of new debt in June in the form of a new loan plus convertible bonds. These were hairy transactions. Avaya was already struggling with heavy leverage and an underlying business in decline. Then everything got worse.
In late July, the company replaced its chief executive. It also said that its ebitda forecast for the quarter would come in at just a third of its previously weak forecast — a shocking reduction.
Naturally, buyers of the June debt offerings are wondering why Avaya deteriorated so quickly. Some have hired lawyers to advise them on their legal options.
您已阅读33%（668字），剩余67%（1386字）包含更多重要信息，订阅以继续探索完整内容，并享受更多专属服务。