Mitel Pays Down $25 Million Against Existing Credit Facility

July 19, 2016

MitelĀ® (Nasdaq:MITL) (TSX:MNW), a global leader in real-time business, cloud and mobile communications, announced that the company has made payments totaling US$25 millionĀ against its existing credit facility. The action of paying down debt is consistent with the company's commitment to shareholders and the investment community to utilize surplus cash reserves to strengthen its capital structure.

"Our solid execution through the second quarter combined with the receipt of the $60 million termination fee received from Polycom has provided the company with cash in excess of our immediate working capital needs," said Steve Spooner, Chief Financial Officer for Mitel. "Year-to-date, including payments of $25 million since we reported first quarter results in early May, we have paid down a total of $65 million against our existing credit facility."

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 and follow us on Twitter @Mitel.

Mitel is the registered trademark of Mitel Networks Corporation. All other trademarks are the property of their respective owners.

Contact Information

Sandrine Quinton, Mitel

Tel: +33 1 30 96 43 01

Email: [email protected]

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