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Avaya Files IPO, Looks to Raise $1B

Avaya Holdings Corp. will offer $1 billion of common stock to investors when an IPO it registered with the U.S. Securities and Exchange Commission becomes effective. Avaya will use some of the funds to pay down long-term debt.

The joint book-runners of the proposed offering will be Morgan Stanley & Co. LLC, Goldman, Sachs & Co., J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., BofA Merrill Lynch, Barclays Capital Inc., UBS Investment Bank and Credit Suisse Securities (USA) LLC.

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