Davis Polk is advising the administrative agent, collateral agent, joint lead arranger and bookrunner in connection with a $725 million debtor-in-possession financing for Avaya Inc. and certain of its affiliates. On January 19, Avaya filed for chapter 11 in the U.S. Bankruptcy Court for the Southern District of New York. On January 23, the Court entered an interim order approving the DIP Financing, and on January 24, the first funding under the DIP closed in the amount of $425 million. Davis Polk is also advising the agent in the Avaya chapter 11 cases for its $3.235 billion prepetition cash flow credit facility.

Avaya is a multinational company that provides communication applications to private and government customers and platforms around the world. It provides a portfolio of software and service solutions for contact centers, unified communications and integrated networking, which software and services are offered on-premises, in the cloud or using a hybrid cloud. Avaya is headquartered in Santa Clara, California, but its operations span across Asia, the Middle East, Europe and the United States. 

The Davis Polk insolvency and restructuring team includes partner Damian S. Schaible and associates Natasha Tsiouris, Aryeh Ethan Falk and Jordan Weber. The credit team includes partner Kenneth J. Steinberg and associates Hilary Dengel and Jeremy Hanson. All members of the Davis Polk team are based in the New York office.

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