Press Release
Atlanta and New York, January 11, 2016 – Ocean Networks, Inc. is currently developing the carrier neutral South America Pacific Link (SAPL) submarine fiber optic cable system. The SAPL system will connect Points of Presence in Oahu (Hawaii, USA), Balboa (Panama), Valparaiso (Chile) and Jacksonville (Florida, USA) with onward connectivity to the network access point (NAP) of the Americas in Miami (Florida, USA). In addition, the system is designed for future connectivity to Manta (Ecuador), Lima (Peru), Arica (Chile), Cuba, the Dominican Republic and the big island of Hawaii.
Ocean Networks has appointed Natixis to act as Exclusive Equity Advisor and Exclusive Debt Advisor in relation to the SAPL project. Natixis will assist Ocean Networks in raising equity from institutional and infrastructure investors as well as senior secured debt from commercial banks.
Jean Pierre Geremy, Global Head of Telecom, Structured & Asset Finance at Natixis, said, “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. 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 project is expected to be financed under a traditional project finance structure, and project debt may be provided with export credit agency backing and/or development bank support in light of significant institutional interest in the project. It is estimated that the SAPL project will be fully funded in less than 12 months.
The strategic SAPL system will fill a requirement for the emerging markets of Central and South America by providing low latency connectivity to the NAP of the Americas in Miami (Florida, USA), the Asia Pacific region, Australia and New Zealand via Hawaii. Hawaii is a mid-Pacific hub, or interconnect point, for many submarine cable systems. The SAPL system also offers a diverse route between trans-Pacific destinations and the NAP of the Americas (all existing trans-Pacific systems currently land on the West Coast of the United States).
SAPL will consist of 3 fiber pairs between Panama and Hawaii, 3 fiber pairs between Panama and Chile and 6 fiber pairs between Panama and Florida. The initial design capacity of the system is 10 terabits per second (Tbps) per fiber pair. The SAPL system is the only regional system that can offer full fiber pair indefeasible rights of use contracts (IRUs).
Ocean Networks expects the SAPL subsea cable system to achieve ready for service date in early 2018.
Scott Schwertfager, CEO of Ocean Networks, states, “We are extremely pleased to have contracted Natixis as our Exclusive Equity and Debt Advisor. Natixis has the proven experience and global reach to help us finance the SAPL system and maintain our ready for service date. Natixis recognized the importance of the SAPL system for the emerging Central and South American markets and their requirement for trans-Pacific connectivity and low latency connectivity to the USA.”
About Ocean Networks
Ocean Networks, Inc. is headquartered in Atlanta, Georgia (USA) and develops submarine cable systems for governments, carriers, content providers and research & education groups. In addition, Ocean Networks provides pre-sales, consulting and engineering services for the submarine cable industry.
For more information on Ocean Networks and the SAPL System, please visit www.OceanNetworks.com
About Natixis
Natixis is the international corporate, investment, insurance and financial services arm of Groupe BPCE, the 2nd-largest banking group in France with 36 million clients spread over two retail banking networks, Banque Populaire and Caisse d’Epargne.
With more than 16,000 employees, Natixis has a number of areas of expertise that are organized into three main business lines: Corporate & Investment Banking, Investment Solutions & Insurance, and Specialized Financial Services.
A global player, Natixis has its own client base of companies, financial institutions and institutional investors as well as the client base of individuals, professionals and small and medium-size businesses of Groupe BPCE’s banking networks.
Listed on the Paris stock exchange, it has a solid financial base with a CET1 capital under Basel 3(1) of €12.9 billion, a Basel 3 CET1 Ratio(1) of 11.2% and quality long-term ratings (Standard & Poor’s: A / Moody’s: A2 / Fitch Ratings: A).
- Based on CRR-CRD4 rules published on June 26, 2013, including the Danish compromise – no phase-in except for DTAs on loss carry-forwards.
Natixis is a recognized player in the infrastructure space and has notably obtained the following rankings in 2014:
? t#1 Arranger in France for PPP, Concessions or DSP by Le Magazine des Affaires ? #10 Global MLA for Project Finance by Thomson Reuters ? #10 Global Bookrunner for Project Finance by Thomson Reuters ? #9 Americas Advisory mandates won for Project Finance by Thomson Reuters
More information on Natixis’ infrastructure expertise is available at: http://cib.natixis.com/infrastructure
Figures as at September 30, 2015
Media Contacts
For Ocean Networks
Scott Schwertfager, CEO [email protected]
Robert Hildebrecht, CFO [email protected]
For Natixis
Mitch Karig CIB Americas Communications Tel. 1-212-891-1882 [email protected]
