Seaborn Networks has completed its USD 500 million project funding for Seabras-1, a new transoceanic subsea fiber optic cable system directly connecting points of presence (POPs) in New York City (US) and SÃ£o Paulo (Brazil), the company said.
All conditions to this project financing have been fully satisfied; debt and equity funds have been drawn.
Seabras-1, owned jointly by Seaborn and global private markets investment manager Partners Group, uses next-generation coherent technology to deliver high-capacity and low latency telecommunications for one of the fastest-growing transoceanic routes in the world.
This six-fiber pair system with initial maximum design capacity of 72Tbps is the first system to provide a direct point-to-point route between the commercial and financial centers of the United States and Brazil. Seabras-1 also includes branching units installed on certain of its fiber pairs that point towards Halifax (Canada), Ashburn (US), Miami (US), St. Croix (US), Fortaleza (Brazil), Rio de Janeiro (Brazil), and Las Toninas (Argentina).
Seaborn Networks is a developer and operator of submarine fiber optic cable systems with an independent cable operator model, including Seabras-1 which is the first direct point-to-point submarine cable system between the financial centers of the US and Brazil. Seabras-1 is a 72Tbps system that will connect New York and SÃ£o Paulo.
Partners Group is a global private markets investment management firm with over EUR42 billion (USD47 billion) in investment programs under management in private equity, private real estate, private infrastructure and private debt.