Conyers advises Natixis on $270m Seabras-1 financing

“Conyers Dill & Pearman provided Bermuda law advice to Natixis, in connection with the debt financing for Seabras-1, a new subsea fibre-optic cable system between the commercial and financial centers of Brazil and the US developed by Seaborn.

Natixis acted as sole structuring bank, underwriter, and mandated lead arranger for the senior debt facilities. Natixis also acted as Agent for the French export credit agency Compagnie Française d’Assurance pour le Commerce Extérieur (“COFACE”) for the transaction.

Equity was provided by Partners Group, the global private markets investment manager. Natixis also acted as exclusive equity adviser for the equity-raising process. On the debt side, Seaborn was advised by Portland Advisers.

Jason Piney and Chiara Nannini of Conyers’ Bermuda office advised on this matter, working alongside Clifford Chance’s New York office.