Alvaria to Cut More Than $700 Million in Debt in Restructuring

Alvaria Inc., a provider of software to call centers that’s backed by Abry Partners, struck a deal with its lenders and equity owners to cut more than $700 million in debt.

• The Atlanta-based company Wednesday said that the transaction will reduce its debt by more than 75%, from about $950 million to less than $225 million, and provide the firm with fresh cash
  • Stakeholders also agreed to provide Alvaria about $50 million, the company said
• Alvaria said the restructuring is supported by a majority of lenders and equity owners and that its remaining stakeholders will be given the ...