Previously Announced Mitel and Aastra Merger Nearing Completion

January 27, 2014

In a market update today, Mitel Networks Corporation (Nasdaq:MITL) (TSX:MNW) and Aastra Technologies Limited (TSX:AAH) confirmed that, further to the announcement on November 11, 2013 of Mitel's intention to merge with Aastra, the parties now expect to close the transaction on or about January 31, 2014, subject to the satisfaction or waiver of remaining closing conditions. 

As previously announced, in conjunction with the transaction, Mitel has received term loan and revolving credit facility commitments from Jefferies Finance LLC and the Toronto-Dominion Bank of up to $405 million to both refinance its existing first lien and second lien credit facilities and to assist in financing the cash consideration for the merger with Aastra. Mitel expects to complete this financing concurrently with the merger.

Upon completion of the transaction, Mitel intends to change its fiscal year-end to December 31. Mitel would expect to then file a transition report on Form 10-K for the eight-month period covering May 1, 2013 to December 31, 2013. Mitel then expects to report its first quarter for the combined company for the three-month period ending March 31, 2014 in early May 2014. The details will be confirmed at a later date.

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.

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Mitel est une marque déposée de Mitel Networks Corporation.

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Contact

Sandrine Quinton, Mitel

Tel: +33 1 30 96 43 01

Email: [email protected]

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