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AWARDS: Best Infrastructure Financing: Brazil.

AWARDS: Best Infrastructure Financing: Brazil.

September 9, 2016

Corporate & Sovereign Strategy Brazil

When Massachusetts-based Seaborn Networks sought funding for Seabras-1, the first direct fiber optic cable between New York and São Paulo, it also logged the first project finance deal for a subsea cable project backed by an export credit agency.  In a slow year in Brazil, when fewer projects came to market, the efforts to bring project financing to the subsea cable sector earned Seabras-1 the award for Best Infrastructure Financing: Brazil. “For subsea cables, there is not a long tradition of project finance. They are typically funded by the consortiums or the joint ventures that build them,” says Larry Schwartz, chief executive officer of Seaborn.  “Subsea cables weren’t changing their fin

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