BOSTON, April 13, 2016 /PRNewswire/ -- Seaborn Networks, a preeminent developer of subsea fiber optic cable systems for the global communications industry, announced today that 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 US$500 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 São Paulo. Seabras-1 was developed, and will be operated, by Seaborn Networks.
About Seaborn Networks
Seaborn Networks is a leading developer and operator of 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 São 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. For additional information, see www.seabornnetworks.com
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SOURCE Seaborn Networks