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Entries from September 1, 2010 - September 30, 2010

Thursday
Sep302010

Sprint Partner Interexchange Network Community Gains Momentum

Source: Sprint Press Release

Sprint (NYSE:S) began successfully passing Partner Interexchange Network (PIN) traffic in April and has expanded its PIN partner base, which currently consists of MSOs, ILECs, CLECs and others, creating an on-net community of 67 million telephone numbers, and is on target to reach 100 million by the end of the year. This growth will result in greater savings for all Sprint PIN customers.

In addition to these advancements, Sprint is now offering termination-only PIN, which allows customers an avenue to establish interconnection arrangements with Sprint’s growing on-net PIN community and their extensive off-net routes as a way to lower termination costs. This offering is ideal as a migration path for companies who have the potential to become an on-net PIN partner. Additional information is available on Sprint Wholesale’s recently refreshed website, poweryourideas.com.
 
“We are excited about the depth and scalability of our PIN product. Companies of varying sizes and priorities can find value in this product,” said Dan Dooley, president – Sprint Wholesale. “We continue to work aggressively to increase our community of numbers so our customers can enjoy the greatest amount of cost savings.”
 
As announced in October 2009, PIN provides business-to-business wholesale exchange of voice traffic. The Sprint PIN service sets up a community of partners who can directly exchange VoIP service between themselves while operating on Sprint’s global Tier-1 IP network. When there is a direct voice traffic exchange between partners, access termination fees and LEC tandem fees can be lowered or eliminated. 
 
The greatest advantage of PIN is the infinite ability to scale that it provides. The larger the partner community, the greater the volume of traffic it can support, delivering cost savings to partners. Additionally, PIN supports multiple verticals. From wireline carriers and wireless providers to cable companies, PIN appeals to a broad number of industry and company types. In addition to PIN’s obvious advantage over the expense of PSTN, PIN delivers far greater scalability than traditional VoIP peering, offering operators a strategic approach to staying competitive.
Thursday
Sep302010

Sprint Turns on 4G Service in Minneapolis-St. Paul and Pittsburgh

Source: Sprint Press Release

Starting today, Sprint (NYSE:S) 4G – the next generation in wireless service and up to 10 times faster than 3G service – is available to customers in Minneapolis-St. Paul and Pittsburgh. With Sprint 4G, wireless customers can experience faster mobile downloads, video chat capabilities and turbo-charged Web browsing – all on the first wireless 4G network from a national carrier.

Sprint offers a growing portfolio of 4G-enabled devices, including HTC EVO 4G, the nation’s first 4G-capable handset, and the newly launched Samsung Epic 4G. Both operate on the Android™ platform. These products are part of a large selection of 4G-capable modems, mobile hotspots and routers that enable 4G advantages of rapid mobile downloads of large files, high-quality streaming video and high-speed Web browsing.
Thursday
Sep302010

Alaska Communications Announces Refinancing Plans

Source: Alaska Communications Press Release

Alaska Communications Systems Group (NASDAQ:ALSK) has announced plans to refinance its existing senior secured credit facility. The proposed facility is expected to consist of a $30 million revolving credit component and a $440 million term loan component. ACS plans to use the net proceeds from borrowings under the new credit facility to refinance and extend the maturity of its existing $426 million term loans and $45 million revolver. The revolving component of the existing facility matures February 1, 2011 and the term loans under the existing facility mature February 1, 2012. The closing of the new facility is expected to occur in October 2010, subject to market and other customary conditions.

Thursday
Sep302010

Clearwire Announces Changes to Board of Directors

Source: Clearwire Press Release

Clearwire (Nasdaq:CLWR), a provider of wireless broadband services and operator of the largest 4G network in the country, today announced that Daniel R. Hesse, Keith O. Cowan, and Steven L. Elfman have resigned from the Clearwire board of directors. Hesse, Cowan and Elfman are all officers of Sprint Nextel (NYSE:S) and were nominated to the Clearwire board by Sprint.

Clearwire was informed by Sprint that the decisions to resign were made out of an abundance of caution to address questions raised by Clearwire regarding new developments in antitrust law. Clearwire's board structure allows for 13 members, seven of which Sprint has the right to appoint. The remaining four Sprint appointees to the Clearwire board are unchanged, and Sprint reserved the right to appoint new members to the Clearwire board at a later date.

Thursday
Sep302010

Atlantic Tele-Network Increases Credit Facility to $370m

Source: ATNI Press Release

Atlantic Tele-Network (Nasdaq:ATNI) today reported that it has amended and restated its existing senior secured credit facility, providing for the addition of a new $50m term loan and a $25m expansion of its existing revolver facility. The amended and restated credit facility also includes the company’s existing $72m and $148m term loans, which were outstanding under the company's previous credit facility. The company’s existing $75m revolving loan was increased to $100m. CoBank, ACB acted as administrative agent and lead arranger in the transaction. Justin D. Benincasa, cfo of the company, said, “This expansion gives us the flexibility to fund planned capital expenditures and continue the Company’s growth initiatives.”

The company used a portion of the new term loan to repay outstanding borrowings under the company’s revolving loan. The company expects to use the remaining proceeds from the credit facility for working capital expenses, capital expenditures, and other corporate purposes. The company currently has no borrowings under its amended revolving loan.