Level 3 Communications (NYSE:LVLT, news, filings) kicked off the fourth quarter with another tweek to its enterprise portfolio. They unveiled a new portfolio of layered security services giving what they’re calling ‘Earth to the Cloud’ protection.
With the cloud still looking for its big enterprise ramp, security is without any doubt one of the key concepts of 2012. You can’t swing a cat without hitting another upgraded security product press release these days.
Not many cover the range of services and geography that Level 3’s does of course, stretching globally from access to IP transit to managed services to CDN. That gives them a broader view of vulnerabilities, threats, and activity than most providers can manage. Of course, it’s also a lot of territory to cover. They’re still putting all the components in place for their organic growth push as the Global Crossing integration enters its second year now. Security is a key piece of that.
As for the refinancing, Level 3 says it has successfully arranged a new senior secured Tranche B-II term loan due 2019. The new facility will be at LIBOR+3.25%, replacing the previous facilities of LIBOR+4.25%. The company expects to save $12M/year as a result, which will add to what still looks like a nicely FCF-positive 2013 in the offing.
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