New york: Mavenir, a cloud-native network infrastructure provider, has successfully completed a comprehensive recapitalisation with its lenders and its existing investor, private equity firm Siris. This transaction effectively eliminates over $1.3 billion of existing debt and secures $300 million in new senior financing. Additionally, it includes a subordinated facility from Siris and participating lenders.

According to BERNAMA News Agency, Mavenir President and CEO Pardeep Kohli stated that the recapitalisation provides a stronger financial base for the company, enabling it to continue driving innovation for its global customer base. Kohli emphasized Mavenir’s position at the forefront of cloud transformation and its readiness to redefine the “Network of the Future” with the support of Siris and its lender partners.

Hubert de Pesquidoux, Executive Chair of Mavenir and Siris Executive Partner, highlighted that the completion of the transaction signifies the ongoing confidence and commitment of both Siris and the lenders. He noted that with a significantly strengthened balance sheet and Siris’ continued support, Mavenir is set to accelerate its leadership in the software industry.

Siris will maintain its role as the controlling owner of Mavenir and will continue its active partnership as the company pursues its vision of a cloud-native, artificial intelligence-enabled network.