Pacific Fibre appoints banks to lead fund raising

28 Apr 2011

Pacific Fibre has announced that it has appointed ANZ, Credit Suisse and First NZ Capital to lead fund raising for its new undersea cable system. The Pacific Fibre network will connect Australia to the United States with two fibre optic cables via New Zealand. ‘ANZ is delighted to be a part of the development of this critical infrastructure connecting Australia and New Zealand to the United States, and has been a supporter of the project from the early stages’, said David Green, ANZ New Zealand Managing Director, Institutional. The bank’s Executive Director for Institutional Relationships, John Vetter, added ‘We are very happy to be supporting Pacific Fibre. Our mandate is to raise the debt portion of the USD400 million 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.’

Australia, New Zealand, United States