Mitel Completes Refinancing of Credit Facilities

Mitel Completes Refinancing of Credit Facilities

Utilizes Surplus Cash to Reduce Debt

OTTAWA, Feb. 27, 2013 (GLOBE NEWSWIRE) -- Mitel® (Nasdaq:MITL) (TSX:MNW), a
leading provider of cloud and premises-based unified communications and
collaboration (UCC) solutions, today announced the Company has completed the
refinancing of its first and second lien credit facilities with $320 million
in new senior secured credit facilities. Bank of America Merrill Lynch, RBC
Capital Markets, and MerchCap Solutions were Joint Lead Arrangers and Joint
Book-Running Managers on the transactions.

"We are pleased to have secured new credit facilities on favorable terms,
enhancing our operating flexibility," said Steve Spooner, Chief Financial
Officer, Mitel. "In line with our previously announced intentions, we took
advantage of the company's strong cash position to reduce our overall debt,
further strengthening our financial position."

The new credit facilities consist of an undrawn $40 million first lien
revolving credit facility maturing in February 2018, a $200 million first lien
term loan maturing in February 2019 and an $80 million second lien term loan
maturing in February 2020. The undrawn $40 million first lien revolving credit
facility is priced at LIBOR, plus 5.75%. The $200 million term loan facility
is priced at LIBOR, plus 5.75% with a LIBOR floor of 1.25%. The $80 million
term loan facility is priced at LIBOR, plus 9.75%, with a LIBOR floor of
1.25%.

Proceeds from the new credit facilities, along with approximately $35 million
in cash, were used to repay the $304 million outstanding under the existing
credit facilities, as well as fees and expenses related to the transactions.

About Mitel

Mitel® (Nasdaq:MITL) (TSX:MNW) is a global provider of unified communications
and collaboration (UCC) software, solutions and services that enable
organizations to conduct business anywhere, over any medium with the device of
their choice. Through a single cloud-ready software stream, Mitel's Freedom
architecture provides customers in over 100 countries the flexibility and
simplicity needed to support today's dynamic work environment. For more
information visit www.mitel.com.

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MITL-F

CONTACT: Amy MacLeod (media)
         613-592-2122 x71245
         amy_macleod@mitel.com
        
         Malcolm Brown (industry analysts)
         613-592-2122 x71246
         malcolm_brown@mitel.com
        
         Cynthia Hiponia and Alice Kousoum (investor relations)
         613-592-2122 x71997
         investorrelations@mitel.com

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