Bloomberg Law May 10, 2022
(Most relevant for predicting future layoffs).
Leveraged loans of Avaya Holdings fell seven points on Tuesday after the communication software and services company reduced its full-year earnings forecast to below the consensus analysts estimate.
Avaya’s ~$743 million TLB-2 loan and $800 million TLB-1 loan each fell about 7 cents on the dollar to a range of 87-89 cents, according to people with knowledge of the matter, who asked not to be identified.
The TLB-1 was around 97.00 - 97.75 and B2 was 96.75 - 97.5 cents on the dollar on Monday, the people said
Avaya cut its adjusted earnings per share guidance for the full year; ...