Seaborn Networks said its Seabras-1 cable project was awarded a “Perfect 10 ECA Finance Deal of the Year” by the prominent international magazine Trade & Export Finance.
This award is given to the world´s best projects in the export credit agency/project finance market.
The Perfect 10 Award is the second award this quarter to recognize Seabras-1 as the first export credit agency-backed project financing of a subsea cable project in the 160-year history of the global telecommunications industry.
Seaborn completed its USD500 million project financing for the 72Tbps Seabras-1 system in Q4 2015. Manufacturing of the full system is ongoing and, when completed in Q2 2017, will provide the first-ever direct point-to-point route between New York City and SÃ£o Paulo. Seabras-1 was developed, and will be operated, by Seaborn Networks.
Seaborn Networks develops and operates subsea 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 US and Brazil. Seabras-1 is a 72Tbps system that will connect New York and SÃ£o Paulo. 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.