Skip to content
Subscriber Only

Avaya to Meet Creditors as It Wrangles $6 Billion Debt Load

Updated on

Avaya Inc. will meet with creditors this week for the first time since the company said it’s reviewing ways to rein in its $6 billion debt load, according to people with knowledge of the matter.

The discussions will put the software and services provider face-to-face with a group of lenders including Blackstone Group LP and Apollo Global Management LLC, who hired advisers to negotiate with the company, said the people, who asked not to be identified because the discussions are private. The creditors are pushing for the company, which private-equity firms TPG Capital Management and Silver Lake Management acquired in 2007, to halve its debt load, one of the people said.