{"id":174,"date":"2013-11-11T11:35:01","date_gmt":"2013-11-11T11:35:01","guid":{"rendered":"http:\/\/www.seabornnetworks.com\/wordpress\/?p=174"},"modified":"2015-03-05T13:22:31","modified_gmt":"2015-03-05T13:22:31","slug":"seaborn-nears-funding-for-seabras-1","status":"publish","type":"post","link":"https:\/\/seabornnetworks.com\/homolog\/seaborn-nears-funding-for-seabras-1\/","title":{"rendered":"Seaborn Nears Funding for Seabras-1"},"content":{"rendered":"<p><strong>\u2014 Dan O&#8217;Shea, Managing Editor, Light Reading<\/strong><\/p>\n<p>Subsea cable operator Seaborn Networks, which is planning the world&#8217;s longest trans-oceanic 100G route &#8212; connecting the US and Brazil &#8212; appears close to announcing funding for the project after obtaining a &#8220;Promise of Guarantee&#8221; credit facility from French export credit agency Coface last month.<\/p>\n<p>The operator is aiming to have the new Seabras-1 route &#8212; between New York City and Sa&atilde;o Paolo, with another landing point in Fortaleza, Brazil &#8212; ready in 2015, in advance of the 2016 Summer Olympics in Rio de Janiero. However, Seaborn CEO Larry Schwartz tells us Seaborn Networks LLC isn&#8217;t doing it for Olympic glory.<\/p>\n<p>\u201cThe primary reason we\u2019re pursuing this project is because there is pent-up demand on that route,&#8221; he says. \u201cOur focus is not on the capacity demands generated by sporting events. It will handle that demand, but our focus is really selling 15-year use deals and spectrum sales. We want to sell large blocks of capacity to carriers and other parties.\u201d<\/p>\n<p>Schwartz says that current cables on the US-Brazil route are in most cases more than a decade old and won&#8217;t be able to match the 40 Tbit\/s capacity of Seabras-1. The project, which Seaborn announced in 2012, is being built by Alcatel-Lucent and already has Tata Communications signed on as an anchor tenant. (See: AlcaLu Wins US-Brazil Subsea Deal, Seaborn to Link US, Brazil, and Tata Comms Takes Seaborn Capacity.)<\/p>\n<p>The last few weeks proved to be busy for Seaborn, as it earned the guarantee from Coface and also found a backhaul partner for the US end of the route in Sunesys. With the Coface guarantee bagged, funding is near, Schwartz says. &#8220;Coface is not providing any direct funding. It is a credit guarantee on the project that we can use for further construction. Regarding funding, you\u2019ll see other announcements from us shortly.&#8221;<\/p>\n<p><a href=\"http:\/\/www.lightreading.com\/optical\/subsea\/seaborn-nears-funding-for-seabras-1\/d\/d-id\/706546\" target=\"_blank\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u2014 Dan O&#8217;Shea, Managing Editor, Light Reading Subsea cable operator Seaborn Networks, which is planning the world&#8217;s longest trans-oceanic 100G route &#8212; connecting the US and Brazil &#8212; appears close to announcing funding for the project after obtaining a &#8220;Promise of Guarantee&#8221; credit facility from French export credit agency Coface last month. The operator is [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[5],"tags":[],"class_list":["post-174","post","type-post","status-publish","format-standard","hentry","category-in-the-press"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Seaborn Nears Funding for Seabras-1 - Seaborn Networks<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/seabornnetworks.com\/homolog\/seaborn-nears-funding-for-seabras-1\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Seaborn Nears Funding for Seabras-1 - Seaborn Networks\" \/>\n<meta property=\"og:description\" content=\"\u2014 Dan O&#8217;Shea, Managing Editor, Light Reading Subsea cable operator Seaborn Networks, which is planning the world&#8217;s longest trans-oceanic 100G route &#8212; connecting the US and Brazil &#8212; appears close to announcing funding for the project after obtaining a &#8220;Promise of Guarantee&#8221; credit facility from French export credit agency Coface last month. 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