New Zealand-based cable developer Pacific Fibre has hired ANZ, Credit Suisse and First NZ Capital to raise about US$400m to build its new undersea cable system.
In an announcement, the company said the two fibre optic cables will link Australia to the…
New Zealand-based cable developer Pacific Fibre has hired ANZ, Credit Suisse and First NZ Capital to raise about US$400m to build its new undersea cable system.
In an announcement, the company said the two fibre optic cables will link Australia to the United States via New Zealand.
ANZ New Zealand’s executive director for institutional relationships, John Vetter, stated: “Our mandate is to raise the debt portion of the US$400m project on a project finance basis, and as lead arranger we intend to provide a significant portion of the required financing while also arranging for other qualified Australasian and international banks to join in this financing.”
Pacific Fibre is aiming to connect Australia, New Zealand and the US with 5.12 Terabits/sec of capacity in 2013. In the statement, the company’s CEO Mark Rushworth said: “Pacific Fibre’s undersea cable system will unleash the potential of the Australian NBN and New Zealand UFB/RBI projects.”
