Ontario · Foreign recognition (CCAA)
First Report of the Information Officer
Court officer report · 8 April 2025
A plain-language read of this filing opens with a subscription.
What we verified from this filing9 verified
- secured creditorsnote: Approximate principal amount outstanding per Company table; part of Mitel Group's total secured funded debt of $1.31 billion which MNC guarantees in its entirety; Security Opinion confirms validity/perfection of MNC's security for Priority Lien Loans specifically · page: 8 · as of: March 2025 · amount: 156000000 · debtor: Mitel Networks Corporation (MNC), as guarantor; Mitel Group as borrower · creditor: Priority Lien Term Loan Lenders · currency: USD · security: Senior Loans tranche; MNC granted security interests in its existing and after-acquired personal property in respect of its guarantee; subject to Omnibus Intercreditor Agreement governing priority among Senior/Junior Loan lenders; maturity October 2027
- secured creditorsnote: Approximate principal amount outstanding per Company table; part of Mitel Group's total secured funded debt of $1.31 billion · page: 8 · as of: March 2025 · amount: 64000000 · debtor: Mitel Networks Corporation (MNC), as guarantor; Mitel Group as borrower · creditor: Incremental Revolving Loan Lenders · currency: USD · security: Senior Loans tranche; MNC granted security interests in its existing and after-acquired personal property in respect of its guarantee; subject to Omnibus Intercreditor Agreement; maturity November 2025
- secured creditorsnote: Approximate principal amount outstanding per Company table; part of Mitel Group's total secured funded debt of $1.31 billion · page: 8 · as of: March 2025 · amount: 576000000 · debtor: Mitel Networks Corporation (MNC), as guarantor; Mitel Group as borrower · creditor: Second Lien Term Loan Lenders · currency: USD · security: Senior Loans tranche; MNC granted security interests in its existing and after-acquired personal property in respect of its guarantee; subject to Omnibus Intercreditor Agreement; maturity October 2027
- secured creditorsnote: Approximate principal amount outstanding per Company table; part of Mitel Group's total secured funded debt of $1.31 billion · page: 8 · as of: March 2025 · amount: 125000000 · debtor: Mitel Networks Corporation (MNC), as guarantor; Mitel Group as borrower · creditor: Third Lien Term Loan Lenders · currency: USD · security: Senior Loans tranche; MNC granted security interests in its existing and after-acquired personal property in respect of its guarantee; subject to Omnibus Intercreditor Agreement; maturity October 2027
- secured creditorsnote: Approximate principal amount outstanding per Company table; part of Mitel Group's total secured funded debt of $1.31 billion · page: 8 · as of: March 2025 · amount: 32000000 · debtor: Mitel Networks Corporation (MNC), as guarantor; Mitel Group as borrower · creditor: Third Lien Additional Facility Lenders · currency: USD · security: Senior Loans tranche; MNC granted security interests in its existing and after-acquired personal property in respect of its guarantee; subject to Omnibus Intercreditor Agreement; maturity October 2027
- secured creditorsnote: Approximate principal amount outstanding per Company table; part of Mitel Group's total secured funded debt of $1.31 billion · page: 8 · as of: March 2025 · amount: 235000000 · debtor: Mitel Networks Corporation (MNC), as guarantor; Mitel Group as borrower · creditor: Legacy Senior Term Loan Lenders · currency: USD · security: Junior Loans tranche; MNC granted security interests in its existing and after-acquired personal property in respect of its guarantee; subject to Omnibus Intercreditor Agreement; maturity November 2025
- secured creditorsnote: Approximate principal amount outstanding per Company table; part of Mitel Group's total secured funded debt of $1.31 billion · page: 8 · as of: March 2025 · amount: 108000000 · debtor: Mitel Networks Corporation (MNC), as guarantor; Mitel Group as borrower · creditor: Legacy Junior Term Loan Lenders · currency: USD · security: Junior Loans tranche; MNC granted security interests in its existing and after-acquired personal property in respect of its guarantee; subject to Omnibus Intercreditor Agreement; maturity November 2026
- unsecured creditorsnote: Components per Company debt table (not summed): Swiss ABL Loans approx. $3 million outstanding; Non-Swiss ABL Loans approx. $14 million outstanding, both as of March 2025 · page: 9 · as of: March 2025 · basis: MNC is a guarantor of the ABL Loans but 'has not granted security in respect of its guarantee of the ABL Loans'; listed among MNC's unsecured obligations as 'unsecured guarantee in respect of the ABL Loans' · debtor: Mitel Networks Corporation (MNC) · creditor: ABL Lenders (unsecured guarantee) · currency: USD
- recovery outcomeentries: basis: plan · quote: General unsecured creditors are to be unimpaired as part of the implementation of the Restructuring Transactions and treated in the normal course. · pct of: unstated · outcome: paid_in_full · class key: unsecured · stated by: monitor · class label: General unsecured creditors · interim final: unstated · claims qualifier: unstated · table missing: