French Export Credit Agency Supports Funding for Seabras-1 to be Built by Alcatel-Lucent
Boston, Massachusetts, October 21, 2013 – Seaborn Networks today announced that Coface, the French Export Credit Agency, has issued, for the account of the French State, a "Promise of Guarantee" for a credit facility for the Seabras-1 Brazil-US cable project subject to certain closing conditions.
Seaborn Networks intends to use the buyer credit to facilitate the manufacture and installation of Seabras-1, a new four-fiber pair Brazil-US submarine cable system being built by Alcatel-Lucent for Seaborn Networks. Seabras-1 will be the first direct route between Sao Paulo and New York, and the system will also have a landing in Fortaleza, Brazil.
Seaborn Networks also announced today that the maximum design capacity for Seabras-1 has been increased from 32 Tbps to 40 Tbps in response to market and customer demand for high bandwidth services.
“Our receipt of the Coface Guarantee is a critical achievement for the Seabras-1 project,” said Larry Schwartz, CEO of Seaborn Networks. “As Brazil and other South American countries continue to experience unprecedented growth in demand for telecommunications services, Seabras-1 is well positioned to support the region’s international communications needs.”
This new submarine cable system will be based on Alcatel-Lucent’s advanced 100 Gbps coherent technology, developed by Alcatel-Lucent in Villarceaux, near Paris. The ready-for-service date of Seabras-1 is in 2015.
ABOUT SEABORN NETWORKS
Seaborn Networks is an independent developer and operator of submarine fiber optic cable systems, including Seabras-1 which is the first direct fiber optic cable between Sao Paulo, Brazil and the United States. Seabras-1 is a 40 Tbps system that will connect Sao Paulo and New York, with a branch that lands in Fortaleza, Brazil. Seaborn was founded by successful submarine cable and wholesale carrier executives with experience in designing, building and operating many of the world’s largest submarine and terrestrial networks. Prior submarine systems designed, built and operated by Seaborn’s management team represent a total of 75 landing stations, 250 points of presence and 250,000 km of submarine cable (more than 6X the circumference of the earth).
For additional information, see www.seabornnetworks.com
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