Welcome!

News Feed Item

Seaborn Networks Mandates Natixis as Sole Structuring Bank, Underwriter, and Lead Arranger

USD 290 million in senior secured commercial debt fully underwritten on Brazil-US subsea cable project.

BOSTON, March 3, 2014 /PRNewswire/ -- Seaborn Networks and Natixis are pleased to announce that Seaborn has mandated Natixis, a major French bank, to act as sole structuring bank, underwriter and lead arranger for a fully underwritten USD 290 million senior secured project financing debt for the development and installation of Seaborn's new subsea fiber optic cable system between commercial and financial centers of Brazil and the United States. Natixis is also expected to serve as COFACE Facility Agent and Security Agent for this project debt.

Seaborn's new submarine cable project, known as Seabras-1, is a 40 Tbps, four fiber pair system extending 10,400 km between Sao Paulo, Brazil and New York, USA, with a branch landing in Fortaleza, Brazil. It will be the first direct route between Sao Paulo and the United States, with lower latency than any other competing system, and is also the world's longest system to be fully deployed with 100 Gbps coherent technology.

The mandating of Natixis to arrange the credit facility follows the previously announced "Promise of Cover" provided by Compagnie Francaise d'Assurance pour le Commerce Exterieur (COFACE), the French export credit agency, for banks that participate in the facility. The mandating of Natixis in the role of Lead Arranger for this credit facility follows the recent announcement by the International Finance Corporation (IFC) of the World Bank Group that the IFC is now one of the owners of Seaborn.

"Natixis has been a valued partner throughout the financing process and this further solidifies our strong relationship with a leading infrastructure finance bank," said Larry Schwartz, Seaborn's CEO. "We are very appreciative of the bank's support in helping us to achieve another key milestone in the development of this subsea cable project."

"Natixis welcomes the opportunity to play a key role in the Seabras-1 project, which is expected to be the first export credit agency-backed project financing in the global submarine cable industry," said Olivier Delay, Managing Director & Head of Aviation, Export and Infrastructure, Americas for Natixis Wholesale Banking.

Natixis has been advising Seaborn as the exclusive equity adviser and COFACE Agent, in addition to now being mandated as the sole structuring bank, underwriter, lead arranger and COFACE Facility Agent.

Seabras-1 is being built for Seaborn by Alcatel-Lucent Submarine Networks (ASN). Environmental and permitting work in Brazil has been provided by Ecology & Environment, Inc. and in the United States by Michael Baker, Jr., Inc.

Seaborn is advised by Portland Advisers (debt adviser), Milbank Tweed Hadley & McCloy LLP (project counsel), Wiltshire & Grannis LLP (US regulatory counsel), Choate Hall & Stewart LLP (US corporate and tax counsel), Barbosa Mussnich e Aragao Advogados (Brazil corporate, tax and regulatory counsel), Appleby (Bermuda) Limited (Bermuda counsel), The Weiner Company, Inc. (insurance adviser) and EY (international tax adviser).

Natixis is advised by Clifford Chance US LLP (project counsel), Sidley Austin LLP (US regulatory counsel), Veriano Advogados (Brazil counsel), Benatar & Co. Ltd. (insurance adviser), Analysys Mason (market & technical adviser), and Terabit Consulting (market adviser).

About Seaborn Networks
Seaborn Networks is a developer and operator of submarine fiber optic cable systems, including Seabras-1, which is the first direct fiber optic cable between commercial and financial centers of Brazil and the United States. Seabras-1 is a 40 Tbps system that will connect Sao Paulo, Brazil and New York, USA, with a branch that lands in Fortaleza, Brazil. Seaborn was founded by submarine cable / wholesale carrier executives with a successful track record in designing, building and operating many of the world's largest submarine networks as well as in infrastructure finance. 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 more information, please visit www.seabornnetworks.com.

About Natixis
Natixis is the corporate, investment and financial services arm of Groupe BPCE, the 2nd-largest banking group in France with 21% of total bank deposits and 36 million clients spread over two networks, Banque Populaire and Caisse d'Epargne.

With more than 15,300 employees (excl. Coface), Natixis has a number of areas of expertise which are organized in three main business lines: Wholesale Banking, Investment Solutions and Specialized Financial Services.

A global player, Natixis has its own client base of companies, financial institutions and institutional investors as well as the client base of individuals, professionals and small and medium-size businesses of Groupe BPCE's two retail banking networks.

Listed on the Paris stock exchange, it has a solid financial base with a CET1 capital under Basel 3 (1) of €12.5 billion, a Basel 3 CET1 Ratio(1) of 10.4% and quality long-term ratings (Standard & Poor's: A / Moody's: A2 / Fitch Ratings: A).

(1) Based on Natixis understanding of CRR-CRD4 rules reported on June 26, 2013, including the Danish compromise - without phase-in except for DTAs on tax loss carry forwards. 
Figures as at December 31, 2013

The development of Natixis in the Americas is central to Natixis' strategy.
Natixis is a recognized player in the infrastructure space and has notably obtained the following rankings and awards:
#1 Arranger in France for PPP, Concessions or DSP by Le Magazine des Affaires in 2011-2013
#7 Financial Advisor for Project Finance won worldwide by Infrastructure Journal in 2012
#15 MLA for Project Finance Worldwide by Thomson in 2013
More information on Natixis infrastructure expertise available on: http://cib.natixis.com/infrastructure

Press Contacts:

For Seaborn:
Dan Taylor, [email protected], Tel: +1 978 377 8366

For Natixis:
Mitch Karig, Wholesale Banking Americas Communications, [email protected], Tel. +1 212 891 1882

SOURCE Seaborn Networks

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events has announced today that Roger Strukhoff has been named conference chair of Cloud Expo and @ThingsExpo 2016 Silicon Valley. The 19th Cloud Expo and 6th @ThingsExpo will take place on November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. "The Internet of Things brings trillions of dollars of opportunity to developers and enterprise IT, no matter how you measure it," stated Roger Strukhoff. "More importantly, it leverages the power of devices and the Interne...
"There's a growing demand from users for things to be faster. When you think about all the transactions or interactions users will have with your product and everything that is between those transactions and interactions - what drives us at Catchpoint Systems is the idea to measure that and to analyze it," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York Ci...
Redis is not only the fastest database, but it is the most popular among the new wave of databases running in containers. Redis speeds up just about every data interaction between your users or operational systems. In his session at 19th Cloud Expo, Dave Nielsen, Developer Advocate, Redis Labs, will share the functions and data structures used to solve everyday use cases that are driving Redis' popularity.
Predictive analytics tools monitor, report, and troubleshoot in order to make proactive decisions about the health, performance, and utilization of storage. Most enterprises combine cloud and on-premise storage, resulting in blended environments of physical, virtual, cloud, and other platforms, which justifies more sophisticated storage analytics. In his session at 18th Cloud Expo, Peter McCallum, Vice President of Datacenter Solutions at FalconStor, discussed using predictive analytics to mon...
Most organizations prioritize data security only after their data has already been compromised. Proactive prevention is important, but how can you accomplish that on a small budget? Learn how the cloud, combined with a defense and in-depth approach, creates efficiencies by transferring and assigning risk. Security requires a multi-defense approach, and an in-house team may only be able to cherry pick from the essential components. In his session at 19th Cloud Expo, Vlad Friedman, CEO/Founder o...
"We host and fully manage cloud data services, whether we store, the data, move the data, or run analytics on the data," stated Kamal Shannak, Senior Development Manager, Cloud Data Services, IBM, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
With the proliferation of both SQL and NoSQL databases, organizations can now target specific fit-for-purpose database tools for their different application needs regarding scalability, ease of use, ACID support, etc. Platform as a Service offerings make this even easier now, enabling developers to roll out their own database infrastructure in minutes with minimal management overhead. However, this same amount of flexibility also comes with the challenges of picking the right tool, on the right ...
As organizations shift towards IT-as-a-service models, the need for managing and protecting data residing across physical, virtual, and now cloud environments grows with it. Commvault can ensure protection, access and E-Discovery of your data – whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise. In his general session at 18th Cloud Expo, Randy De Meno, Chief Technologist - Windows Products and Microsoft Part...
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and shared the must-have mindsets for removing complexity from the develo...
SYS-CON Events announced today that MangoApps will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. MangoApps provides modern company intranets and team collaboration software, allowing workers to stay connected and productive from anywhere in the world and from any device.
The IETF draft standard for M2M certificates is a security solution specifically designed for the demanding needs of IoT/M2M applications. In his session at @ThingsExpo, Brian Romansky, VP of Strategic Technology at TrustPoint Innovation, explained how M2M certificates can efficiently enable confidentiality, integrity, and authenticity on highly constrained devices.
“We're a global managed hosting provider. Our core customer set is a U.S.-based customer that is looking to go global,” explained Adam Rogers, Managing Director at ANEXIA, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
"We've discovered that after shows 80% if leads that people get, 80% of the conversations end up on the show floor, meaning people forget about it, people forget who they talk to, people forget that there are actual business opportunities to be had here so we try to help out and keep the conversations going," explained Jeff Mesnik, Founder and President of ContentMX, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
DevOps at Cloud Expo – being held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Am...
SYS-CON Events announced today that Isomorphic Software will exhibit at DevOps Summit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, cutting-edge enterprise web applications for desktop and mobile. SmartClient combines the productivity and performance of traditional desktop software with the simp...