Case study: Seaborn Networks

Portland Advisers acted as debt advisor to Seaborn Networks for their $500m Seabras-1 subsea cable project, building a fibre network between New York and Sao Paulo. Partners Group are the main financing investor in the project.

Nick Flitterman and James Benbow were responsible for carrying out the following:

• Review of all available company information, contractual structure
• Preparation of funders Financial Model
• Analysis of financing options, recommendation of preferred structure
• Engagement and management of lenders advisors (legal, technical/commercial, insurance)
• Preparation of full Information Package for financial institutions
• Preparation of detailed termsheet with lenders and Seaborn legal advisors
• Management of bank funding competition to act as COFACE Agent Bank and Lead Arranger
• Assistance with COFACE approval process
• Assistance with negotiation of loan documentation up to signing
• Assistance to Seabras-1 to achieve Conditions Precedents to Financial Close.

Portland Advisers continues to support Seabras-1 with its post-Financial Close services, including assisting with the relationship with the banking syndication, managing drawdowns and reporting requirements.

www.seabornnetworks.com