RESEARCH TRIANGLE PARK — Avaya, which moved its headquarters to the Triangle in 2020, announced on Monday morning that the company will bring in $600 million in “aggregate financing commitments.”

According to the company’s statement, that’s higher than the $500 million that had previously been announced by the company.

Here’s how the funding will come into the company, according to its statement.

First, the company priced $350 million in new “Senior Secured Term Loans.”  Then, the company entered into agreements for private placement of $250 million in “Exchangeable Senior Secured Notes,” all due in 2027.

The company expects the transactions to close “this quarter.”

“We are pleased with the successful execution of this financing,” said Kieran McGrath, Chief Financial Officer of Avaya, in the statement.  “This funding supports and accelerates our business model transformation and addresses our convertible notes maturing in June of next year.”

Avaya, which recently moved HQ to Triangle, names VC to its board