Key Developments: Mitel Networks Corp (MNW.TO)

MNW.TO on Toronto Stock Exchange

10.66CAD
10 Jul 2014
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Latest Key Developments (Source: Significant Developments)

Mitel Networks Corp closes $91 mln bought deal secondary offering of common shares
Wednesday, 28 May 2014 10:02am EDT 

Mitel Networks Corp:Closes bought deal secondary offering.Arsenal Holdco I, S.a.r.l., Arsenal Holdco II, S.a.r.l., Kanata Research Park Corporation and Shen Capital Corporation sold 7,400,000 common shares of Mitel at price of C$12.30 per share for total gross proceeds of $91,020,000.Offering was underwritten by a syndicate of underwriters led by CIBC and Cormark Securities Inc.Mitel did not receive any proceeds from sale of the common shares by the Selling Shareholders.  Full Article

Mitel Networks Corp announces $91 million bought deal secondary offering of common shares
Tuesday, 13 May 2014 04:15pm EDT 

Mitel Networks Corp:Enters into agreement with Kanata Research Park Corporation, Arsenal Holdco I, S.a.r.l., Arsenal Holdco II, S.a.r.l. and Shen Capital Corporation.Also with Syndicate of underwriters led by CIBC and Cormark Securities Inc., who have agreed to purchase 7,400,000 common shares of Mitel.From Selling Shareholders on bought deal basis at price of C$12.30 per share.Selling Shareholders have also granted to Underwriters an over-allotment option to purchase, on same terms, up to further 1,110,000 common shares of Mitel held by them.Option to purchase the Over-Allotment Shares is exercisable at any time, in whole or in part, up to 30 days after the closing.Which is scheduled to occur on or about May 28, 2014.  Full Article

Mitel Networks Corp gives Q2 2014 revenue guidance
Thursday, 8 May 2014 07:02am EDT 

Mitel Networks Corp:Expects Q2 2014 GAAP revenue to be in range of $278 mln to $293 mln.  Full Article

Mitel Networks Corp acquires contact center call recording supplier OAISYS
Tuesday, 4 Mar 2014 12:00pm EST 

Mitel Networks Corp:Announced the acquisition of contact center supplier OAISYS, a developer of integrated call recording and quality management solutions.  Full Article

Mitel Networks Corp completes merger with Aastra Technologies Limited
Friday, 31 Jan 2014 02:30pm EST 

Mitel Networks Corp:Says it has completed its merger with Aastra Technologies Limited.In conjunction with the closing of the merger, it has completed financing of a $405 million credit facility consisting of a $355 million term loan maturing in January 2020 and an undrawn $50 million revolving credit facility maturing in January 2019.Says the $355 million term loan is priced at LIBOR, plus 4.25% with a LIBOR floor of 1.00%.Says undrawn $50 million revolving credit facility is priced at LIBOR, plus 4.25%.Proceeds from the new credit facilities were used to finance the merger of Aastra, repay the $259 million outstanding under the existing credit facilities, as well as fees and expenses related to the transactions.Jefferies Finance LLC and The Toronto-Dominion Bank were Joint Lead Arrangers and Joint Book-Running Managers for the new credit facilities.Says it has acquired all of the issued and outstanding Aastra common shares.Says under the terms of the Arrangement, shareholders of Aastra received $6.52 in cash plus 3.6 common shares of Mitel (the "Mitel Shares") for each Aastra common share held.The total amount of cash paid by Mitel was about $80.0 million and the number of Mitel Shares issued was 44,162,509. Mitel financed the cash consideration of the transaction from cash on hand and from a portion of the proceeds from the new credit facility as discussed above.  Full Article

Mitel Networks Corp announces updates on Mitel and Aastra merger
Monday, 27 Jan 2014 08:04am EST 

Mitel Networks Corp and Aastra Technologies Limited:Confirmed that, further to the announcement on Nov. 11, 2013 of Mitel's intention to merge with Aastra, the parties expect to close the transaction on or about Jan. 31.Says 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 mln.Says 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.Says Mitel expects to complete this financing concurrently with the merger.  Full Article

Mitel Networks Corp gives Q3 2014 revenue guidance in line with analysts' estimates
Thursday, 5 Dec 2013 04:05pm EST 

Mitel Networks Corp:Says Q3 2014 revenue to be in the range of $145 to $150 million.Q3 2014 revenue of $147 million - Thomson Reuters I/B/E/S Estimates.  Full Article

Mitel Networks Corp To Acquire Aastra Technologies Ltd
Monday, 11 Nov 2013 06:00am EST 

Mitel Networks Corp and Aastra Technologies Ltd announced that they have entered into a definitive arrangement agreement unanimously approved by the Boards of Directors of both companies, under which Mitel will acquire all of the outstanding Aastra common shares for USD6.52 in cash plus 3.6 Mitel common shares per each Aastra common share. Using the Mitel closing common share price on November 8, 2013, and a CAD/USD exchange rate of 0.9531, this amounts to CAD31.96 per Aastra common share, a total value on closing to Aastra shareholders of CAD392 Million and represents a 20.9% premium to the 30-day volume weighted average price (VWAP) of Aastra common shares as of November 8, 2013.  Full Article

Mitel Networks Corp Issues Q2 2014 Revenue Guidance Below Analysts' Estimates
Thursday, 29 Aug 2013 04:20pm EDT 

Mitel Networks Corp announced that for the second quarter of 2014. Revenue is expected to be in the range of $142 to $148 million. According to I/B/E/S estimates analysts' are expecting the Company to report revenues of $149 million for the second quarter of 2014.  Full Article

Mitel Networks Corp And Vidyo Inc Bring Personal Telepresence to the Cloud
Tuesday, 25 Jun 2013 08:00am EDT 

Mitel Networks Corp announced that together with Vidyo, Inc they have partnered to deliver a single, comprehensive offering that will integrate Vidyo's HD video and telepresence solutions across Mitel's entire line of unified communications and collaborations (UCC) products, and as part of MiCloud as a Service in the U.S. Through this reseller and distribution agreement, Mitel's global channel partners will be able to offer the UCC end-to-end video conferencing solution, also available as a cloud offering. Early customers are already seeing cost savings, while boosting productivity.  Full Article

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