LONDON, UNITED KINGDOM — (Marketwired – May 26, 2015) – AquaComms Limited (AquaComms), a provider of scalable, subsea capacity-based network solutions, has announced that is has reached financial close and brought its contract into force with TE SubCom, which has begun delivery of the America Europe Connect (AEConnect) subsea cable system. AEConnect is scheduled to be ready for service (RFS) in December 2015, as the latest transatlantic subsea fibre optic cable system connecting North America to Europe with unprecedented capacity, and Microsoft as a confirmed client.
AquaComms’ initial project investment is expected to be $300 million with Nomura funding the debt offering. AquaComms partnered with Fius Capital Limited serving as financial advisor; Redwood Capital Group provided sector and US specific advisory, with Mint Partners serving as the placement agent. This investment focuses on creating a high-speed data connection between New York and London including a 5,400 km subsea cable between Long Island and Killala, Co. Mayo. The system will provide the next generation of connectivity to the UK and Europe utilizing AquaComm’s existing CeltixConnect cable system.