19
Jan, 2016
Portland closes $500m financing for Seaborn Networks
Nick Flitterman and James Benbow from Portland’s telecom team advised Seaborn Networks on the successful project financing for the new Seabras-1 subsea cable connecting New York and Sao Paolo. The senior debt will be guaranteed by the French Export Credit Agency, COFACE, and funded by a bank syndicate of Natixis, Santander, Commerzbank and Banco Intesa. Equity will be provided by Partners Group. The transaction is a landmark deal as the first ECA-backed project financing in over 10 years.
More about Seaborn and the Seabras-1 project can be found here on the company website, or visit our case study page here.
For further information contact Nick Flitterman on +44 20 7183 8385 or nick.flitterman@portlandadvisers.com
Continuing the successful relationship with O3b Networks that started with its original financing in 2010, Portland’s Nick Flitterman and Darryck Luiz advised the company on completing its fourth financing in 6 years to fund the expansion of the constellation from 12 to 20 satellites in response to a growing customer demand.
More information on O3b and its successful start to operational life can be find on the company website here.
For further information on this transaction or in relation to satellite financing, contact Nick Flitterman on +44 20 7183 8385 or nick.flitterman@portlandadvisers.com