Seaborn Networks Obtains “Promise of Guarantee” Credit Facility for Seabras-1 Subsea Cable

Seaborn Networks, a subsea cable operator, obtained a “Promise of Guarantee” credit facility from a French export credit agency Coface for the funding of its submarine cable linking US and Brazil.

As Light Reading reports, Seaborn Networks intents to have Seabras-1 submarine cable ready in 2015.

Seabras-1 will connect New York and Sao Paolo, with a landing station in Fortaleza, Brazil, and will have a capacity of 40 Tbit/s.

Seaborn Networks CEO Larry Schwartz said that the funding for the cable is near with the grant of Coface guarantee.

Seabras-1 will be built by Alcatel-Lucent in partnership with Tata Communications.

Subsea World News Staff, November 13, 2013;  Image: Seaborn Networks