Ocean Networks, Natixis partner for SAPL system funding

Ocean Networks has appointed Natixis to act as exclusive equity and debt advisor for the South America Pacific Link (SAPL) fibre optic cable system project currently under way.

The move is intended to ensure the project is fully funded within 12 months. The SAPL system is set to connect points of presence in Balboa in Panama, Valparaiso in Chile, Oahu, Hawaii, and Jacksonville, Florida; with onward connectivity to the network access point (NAP) of the Americas in Miami, Florida.

Additional future connectivity is planned to Ecuador’s Manta, Lima in Peru, Arica in Chile, Cuba, the Dominican Republic and the big island of Hawaii. The system is intended to answer the need for low latency connectivity to the USA - at the Miami NAP - felt by emerging markets in Central and South America.

In order to finance the project, Ocean Networks has exclusively appointed Natixis to assist in raising equity from institutional and infrastructure investors as well as senior secured debt from commercial banks. Ocean Networks has said it expects the system to be ready by 2018; it is hoped the project will be fully funded within 12 months.

“We are delighted to work with Ocean Networks on its submarine cable system, which will link and strengthen communications between the South Pacific, South and North America,” said Jean Pierre Geremy, Global Head of Telecom, Structured and Asset Finance at Natixis. “Natixis has international expertise and significant experience in telecom infrastructure and project financing, and we are excited to contribute to this project in our role as Exclusive Equity Advisor and Exclusive Debt Advisor.”

The SAPL system will consist of three fibre pairs between Panama and Hawaii, three fibre pairs between Panama and Chile, and six fibre pairs between Panama and Florida. The design capacity of the system is 10 terabits per second (Tbps) per fibre pair.

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