Metro Bytes: FiberLight, FirstLight, Level 3

October 14th, 2014 by · 4 Comments

Here are three other recent network news items worth checking out:

FiberLight is putting some money to work down in southern Florida. They've invested in an upgrade of 70% of their network there, which stretches from North Palm Beach all the way south to Doral. They've chosen Ciena's converged packet optical and packet networking gear to get the job done.

Up in the northeast, FirstLight Fiber has closed its purchase of G4 Communications. The transaction gives them both additional metro fiber and data center assets in New Hampshire, as well as additional overall scale. It's FirstLight's third completed purchase in three years or so in the region, following SegTel and Teljet.

And Level 3 took another important step toward closing the tw telecom deal and adding those 20,000+ on-net buildings to their inventory. They have a new $2B Tranche B term loan lined up, which will bear interest at LIBOR+3.5%. The cash will be used to fund the cash and debt refinancing needs of the tw telecom purchase, whose closing date seems likely to arrive sooner rather than later this quarter. Level 3 also says it now has all necessary approvals from the state PUCs.

Categories: Financials · Mergers and Acquisitions

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4 Comments So Far


  • Morty says:

    The original lvlt request was for 1.5 bil to be offered at 98.5- 99—-They did 2 bil at 99.25 . The int rate was/is 4.50% [350 + 1.00 ,libor is capped to the down side at 1%] .
    TWTC has 913 mil in notes at 5.375%, 350 mil notes at 6.375% . I believe lvlt will refi 605 mil of its 11.875% notes , which are callable on 2/1/15 .The combination of refi’s reduces lvlt int exp by 58 mil per yr . Which will be increasing F/C/F in 2015 & thereafter.

    Morty

    • whylonglvlt says:

      The reduction in interest expense will increase FCF, adding to the $1B estimate of FCF in 2016 will force market recognition to place a triple digit figure on the value of LVLT shares.

  • Anonymous says:

    Every little bit helps I guess but I am more interested in revenue increase, specifically CNS growth. If this acquisition doesn’t put them over the hump of solid and rapid FCF and earnings growth then just sell the damn thing once and for all I say and let someone make better use of all those assets.

  • Kiara Jayne says:

    My business partners needed Bankruptcy B9I earlier this week and came across a company with a ton of fillable forms . If you need Bankruptcy B9I too , here’s http://goo.gl/oX05Zv

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