MLN US HoldCo LLC (Mitel Networks) is a global provider of on-premise, cloud, and hybrid business telecommunications and unified communications solutions, serving customers in 146 countries through a network of over 6,000 channel partners. Founded in 1973 and taken private by Searchlight Capital Partners in 2018 for approximately $2 billion, the company filed a prepackaged Chapter 11 petition on March 9, 2025 in the Southern District of Texas (Case No. 25-90090). At filing, Mitel carried approximately $1.31 billion in funded debt across a complex multi-tier capital structure, with annual cash interest expense of $135 million. The filing was triggered by cross-defaults following a missed interest payment in December 2024. The Debtors obtained a $131 million DIP facility, including $69 million in new money. The prepackaged plan was confirmed on April 17, 2025, eliminating approximately $1.15 billion in debt. Priority lien lenders received 66.7% of new common equity. The case was closed with a final decree on June 23, 2025. The reorganized company emerged with an enterprise value of $355-425 million and a $144 million exit term loan.