Friday Bytes: Zayo, Digital Realty, Ciena, Nokia

June 30th, 2017 by · Leave a Comment

With July 4 approaching rather rapidly and the second quarter coming to a close, here are a few news bits of companies taking care of the details.

Zayo is putting in a bit of refinancing work prior to the July 4 holiday. The Boulder-based infrastructure specialist is offering an additional $300M of 5.75% senior notes due 2027, intending to use the proceeds to partially repay its outstanding term loan facility. Zayo has been shifting around its leadership team over the last few months as well.  Also this morning, Zayo won a deal with an unnamed global investment management company.  Zayo will be providing two fully diverse wavelength rings connecting data centers in the eastern US.

One of Digital Realty's joint ventures has also tapped the credit markets for a bit of refinancing. They and Clise Properties have closed a $135M, 3.29%, interest-only, 10-year mortgage for the Westin Building exchange in Seattle. The arrangement refinances an existing $101M secuired loan at 6.37% that was coming due this September.

Ciena is looking to exchange some of its 3.75% converts due 2018. The company is offering to exchange the old notes, which are currently only able to be settled in shares, for new notes that include an option by which Ciena could settle them via stock, cash, or some combination. The object is to reduce the dilution potential of the notes, which convert at $20.17 per share.

And Nokia polished off its acquisition of Comptel earlier this week. The deal, which was announced in February, brings Comptel's service orchestration and other software capabilities into contact with its OSS and BSS software as well as its SDN and NFV efforts. Now all they have to do is make it all work together.

Categories: Financials · Mergers and Acquisitions

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