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CREDIT DAYBOOK AMERICAS: Avaya Debtholders Put Company on Notice

Aug. 11, 2022, 11:35 AM

Debtholders for Avaya plan to call a default if fails to file its quarterly results by the end of a grace period. At least three issuers are said to be potentially looking to bring deals in the high-grade market Thursday.

  • The spread on the Markit CDX North American Investment Grade Index, which declines as credit risk drops, tightened 0.71 basis points to 75.6 as of 7:20 a.m. New York time
  • Avaya’s creditors organized after the telecommunications company sold a $350 million leveraged loan and a $250 million exchangeable note in late June, and weeks later predicted a sharp decline ...