MayCap acted as Financial Advisor to Midgardsormen AS for the development of a business plan for Midgardsormen Cable System (“MCS”), a transatlantic submarine fiber optic telecommunications cable network connecting the US and Canada with northern Europe.

MCS consisted of 6 Pairs of over 20 Tbps each to provide high speed cable over the transatlantic route with direct low latency and low-cost connectivity to northern/eastern Europe. The Project was envisaged to help fill the demand-supply gap in the transatlantic telecommunications space.

Abhay Ketkar and his team, along with the sponsors designed an innovative business plan taking into account key risks and upsides of an inter-continental subsea telecommunications project. The total project costs were planned to be funded through pre-sales of fiber with the remaining funding raised through a combination of debt and equity.

As part of their role, the MayCap team developed a detailed Financial Model along with key sensitivities and incorporating a variety of financing options including pre-sales, debt and equity.

For further information, contact Abhay Ketkar at abhay.ketkar@maycapadvisors.com.