Seaborn

completed

Seabras-1 is a greenfield undersea fiber optic cable that will link Brazil (landing in Fortaleza and Sao Paulo) with the United States (landing in New Jersey). The project cost over the next two years is about US$410 million, with up to $25 million in equity investment by IFC in Seaborn Networks LLC, whose name shall be changed to become Seaborn Networks Group, Inc., prior to the proposed investment by IFC. This review will refer to the project sponsor as “Seaborn” or the “Company” in relation to project activity to take place both before and after the project sponsor’s expected change of name. Seabras-1, when laid below a depth range of about 1,000–1,500 meters, is expected to be deployed mainly on top of the seabed, although in certain areas, burial in the seabed may take place. At lesser depths, Seabras-1 is expected to be buried in the seabed to protect it from damage by other seabed users. Seaborn is expected to co-locate land connections for its cable in Brazil at existing landing sites in Praia Grande in the state of Sao Paulo and in Praia do Futuro, a suburb of the city of Fortaleza, or to purchase or lease land and build its own landing stations at one or both of those locations. Each of Praia Grande and Praia do Futuro has multiple existing landing sites, as well as available land for purchase or long-term lease near the landings of Seabras-1.