Avaya announced that it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of $1 billion of its common stock. Avaya expects to use the net proceeds it receives from the offering to, among other things, pay down certain long-term indebtedness.
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.