Seaborn Networks receives credit facility for Brazil-US cable
21 October 2013 |
Seaborn Networks has received a credit facility for its subsea cable project linking Brazil to the US, subject to certain closing conditions.
Issued by the French Export Credit Agency, Coface, the buyer credit will be used to facilitate the manufacture and installation of Seabras-1, which is being built by Alcatel-Lucent.
Once complete, Seabras-1 will be the first direct route between São Paulo and New York. It will also have a landing point in Fortaleza, Brazil.
The company has increased the cable system’s maximum design capacity from 32Tbps to 40Tbps, which it claims is due to the growth in demand for high-bandwidth services.
“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,” said Larry Schwartz, CEO of Seaborn Networks.
Seaborn Networks announced Seabras-1 in March 2012, originally estimating the project would be complete this year. The ready-for-service date of Seabras-1 has since been moved to 2015.