Seaborn Networks Receives Coface Guarantee for Brazil-US Cable Project
BOSTON, October 21, 2013 /PRNewswire/ –
French Export Credit Agency Supports Funding for Seabras-1 to be Built by
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,
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 http://www.seabornnetworks.com
Media Contact Dan Taylor +1-978-377-8366 email@example.com
SOURCE Seaborn Networks