Tuesday Roundup: Akamai, Emerald, Orange, Level 3

It’s time for a quick roundup of some interesting news items:

Akamai (NASDAQ:AKAM, news, filings) is going to be helping virtual currency flit around the world even faster and more securely. They’ve won a deal with Singapore-based itBit, which operates an exchange for Bitcoin, to help with both optimizing performance and defending against DDoS and other attacks. I have yet to dabble in Bitcoin, but it’s been fun to watch anyway.

Emerald Networks has pre-sold some more bandwidth on that new Icelandic/transatlantic cable they’re working on. CenturyLink has signed on for capacity between the US and Europe when the system goes live about a year from now (Q4 2013). When it does, it will be the first new transatlantic build in quite some time, and will bring Iceland some major new connectivity.

Over in Europe, Orange Business Services picked up another multi-year contract renewal. Givaudan, a multinational specializing in fragrances and flavors, has renewed its network service contract for another five years and added cloud-based audio and web conferencing services for its 81 location, 130 PoP, 40 country footprint. Lots of those locations are in developing markets, which makes them a longtime Orange Business customer.

And Level 3 Communications (NYSE:LVLT, news, filings) is doing what they always do when CFO Sunit Patel gets the chance. Yep, refinancing some more debt. Level 3 is planning to offer $300M in floating rate senior notes due 2018. The proceeds will go toward redeeming the $300M in floating rate notes they already have out there due in 2015. With all the favorable refi activity in the last few quarters, the company’s cash interest expenses next year will be taking a step downward in 2014, hopefully ensuring that when they break through to positive EPS they stay there.

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