Seaborn II (IFC-34986)

  • Brazil
Geographic location where the impacts of the investment may be experienced.
Specific Location
São Paulo; New Jersey
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Communications
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 25.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 402.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jan 29, 2018

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

Seaborn Networks Group ("Seaborn" or the "Company") will build a new subsea fiber optic cable system ("Seabras-1") to link Brazil (landing in Sao Paulo) directly with the United States (landing in New Jersey). In January 2014, IFC invested US$4 million in the Company. Now, Seaborn is in the process of the final funding round in order to have the funds to build the submarine cable. The project has no material changes since IFC invested in January.


- Increase Capacity: Given the growth of telecommunications, fueled by mobile devices, and in Brazil particularly as a result of its growing middle class, national broadband plan, and increased telecom infrastructure buildout throughout the region, there is significant pent-up demand for affordable large blocks of capacity that can be acquired for long-term lengths. The 4 incumbent Brazil-US cable systems were all built more than 10 years ago using technology from 1995 and have significant limitations on upgradeability.- Reduce pricing: The Brazil-US route is one of the most expensive major transoceanic routes in the world today, and it is also the primary route for international communications between LAC and the rest of world.The project will lower pricing on the route which, in turn, increases telecom competition inside of LatAm and helps to increase affordable broadband penetration locally.- Competition / Independent player: Further to promoting competition by building the newest submarine cable into Brazil, IFC will be contributing to the launch of the only independent player on the route. 2 of the 4 incumbent cable systems (SAm 1 and SAC / LatAm Nauilus) are owned directly by incumbent telecom players (Telefonica, Level 3 / Telecom Italia), and thus potentially seen by customers as prioritizing the parent company's own needs above the broader needs of the market.- LAC Regional Integration: The Project will help improve affordable connectivity and competition for the ongoing economic development of northern Brazil and other South American countries (e.g. Uruguay, Paraguay, Argentina, Chile).- Increase broadband internet access: The Project will address the growing demand for broadband internet communications throughout LAC.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Seaborn is a privately-owned company and is the project sponsor, developer and operator. Seaborn is comprised of a team of experienced executives in submarine cable design, installation and operations and the team brings a track record of success. Currently Seaborn is a wholly-owned subsidiary of Seaborn Networks Holdings, LLC ("HoldCo"), and HoldCo is currently owned in part by IFC, in part by the founding management team, and in part by a syndicate of development stage investors. No one group has a majority ownership stake.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Seaborn Networks Group, Inc. Client -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.


The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at You can learn more about the CAO and how to file a complaint at

How it works

How it works