Mitel Completes Refinancing of Credit Facilities

February 27, 2013

Mitel® (Nasdaq:MITL) (TSX:MNW), a leading provider of cloud and premises-based unified communications and collaboration (UCC) solutions, today announced the Company has completed the refinancing of its first and second lien credit facilities with $320 million in new senior secured credit facilities. Bank of America Merrill Lynch, RBC Capital Markets, and MerchCap Solutions were Joint Lead Arrangers and Joint Book-Running Managers on the transactions.

"We are pleased to have secured new credit facilities on favorable terms, enhancing our operating flexibility," said Steve Spooner, Chief Financial Officer, Mitel. "In line with our previously announced intentions, we took advantage of the company's strong cash position to reduce our overall debt, further strengthening our financial position."

The new credit facilities consist of an undrawn $40 million first lien revolving credit facility maturing in February 2018, a $200 million first lien term loan maturing in February 2019 and an $80 million second lien term loan maturing in February 2020. The undrawn $40 million first lien revolving credit facility is priced at LIBOR, plus 5.75%. The $200 million term loan facility is priced at LIBOR, plus 5.75% with a LIBOR floor of 1.25%. The $80 million term loan facility is priced at LIBOR, plus 9.75%, with a LIBOR floor of 1.25%.

Proceeds from the new credit facilities, along with approximately $35 million in cash, were used to repay the $304 million outstanding under the existing credit facilities, as well as fees and expenses related to the transactions.

A propos de Mitel

Parmi les leaders mondiaux dans le domaine des communications d’entreprise en rendant possibles plus de 2 milliards de connexions chaque jour, Mitel permet aux entreprises de se connecter, de collaborer et aux fournisseurs de services de proposer des services innovants à leurs clients. Notre innovation et nos experts sont au service de plus de 70 millions d’utilisateurs dans plus de 100 pays.

Pour en savoir plus, visitez notre site https://www.mitel.com/fr-fr ou suivez-nous @Mitel_FR sur Twitter

Mitel est une marque déposée de Mitel Networks Corporation.

Toutes les autres marques sont la propriété de leurs détenteurs respectifs.

Informations de contact

Sandrine Quinton, Mitel

Tel: +33 1 30 96 43 01

Email: sandrine.quinton@mitel.com

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