Portland closes $500m financing for Seaborn Networks
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