Time to catch up on some recent network operator news:
Windstream (NYSE:WIN, news, filings) turned in another federal contract win yesterday with DISA. They'll be supplying Virginia's Fort Lee with fiber and wavelength services, building two diverse fiber paths and deploying redundant DWDM gear to bring the facility on-net. Since the PAETEC deal, Virginia has become one of Windstream's key fiber markets and they've had quite a bit of success in the federal vertical.
Sidera Networks won an important contract extension with NYSE Technologies, the commercial technology division of NYSE Euronext. The northeastern fiber operator will continue to support the network infrastructure needs of SFTI going forward. Not that this is a surprise of course, as Sidera is very strong in the low latency game in the New York Metro area and has been investing to keep it that way.
Megapath (news) has relocated its headquarters from San Jose to Pleasanton, 25 miles or so to the north. The move is part of an overall consolidation and expansion of facilities as it continues to transform into a managed services operator with a substantial Ethernet-over-copper footprint nationwide.
Teliasonera International Carrier is taking the 100G plunge. They've selected Nokia Siemens Networks gear for the upgrade across their pan-European network. The upgrade will overlay their current infrastructure, built off of 10G and 40G gear, also from the same vendor. NSN's 100G gear uses coherent CP-QPSK technology.
Level 3 this morning announced a network expansion into eastern Washington, or more specifically into East Wenatchee and Quincy. The expansion involves 200 miles of fiber and connections to five data centers, with multiple customers right off the bat.
And finally, the debt markets continue to shine on Level 3 Communications (NYSE:LVLT, news, filings) even as the stock markets grumble. The international network operator's $400M offering of senior notes announced yesterday expanded dramatically into $775M at a rate just 7%. They'll be using the cash to refinance the whole bundle of 8.75% senior notes due 2017, with some left over. Level 3's stock price was also apparently hit by that trading 'oops' yesterday by Knight Capital, which explains a lot about yesterday morning's strange movement I guess. They also said they'd be taking a non-cash loss in Q3 on some interest rate swaps they had taken to hedge their previous term loan. For those counting, Level 3 has tapped the credit markets for nearly $2.5B over the past two weeks.
CLEC · Financials · Metro fiber