Mitel Leverages Strong Cash Position to Repay $20M Against Existing Credit Facility

November 07, 2013

Mitel® (Nasdaq:MITL) (TSX:MNW), a leading provider of cloud and premises-based unified communications software solutions, announced that as a result of its strong cash position, the company today will be making a US$20 million payment against its existing credit facility. The payment is consistent with the company's commitment to shareholders and the investment community to utilize surplus cash reserves to reduce debt.

"Mitel runs a highly disciplined leveraged business model that continues to generate strong cash flow," said Steve Spooner, Chief Financial Officer for Mitel. "With the end of our fiscal 2014 second quarter last week, we are taking advantage of a strong cash position to make an additional $20 million debt reduction payment." 

Mitel's full second quarter fiscal 2014 results will be published in early December. Details of the Q2 conference call will be confirmed separately.

About Mitel

A global market leader in business communications powering more than two billion business connections, Mitel helps businesses and service providers connect, collaborate and provide innovative services to their customers. Our innovation and communications experts serve business users in more than 100 countries. For more information, go to www.mitel.com and follow us on LinkedIn and Twitter @Mitel.

Contact Information

Mitel Public Relations

Email: [email protected]

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