Trident Subsea Cable seeks private equity funding - report

Monday 23 May 2016 | 11:35 CET | News
Trident Subsea Cable has hired Azure Capital to help it raise equity funding. According to the Australian Financial Review, the company is looking to raise about USD 70 million to help fund construction of its subsea cable from Perth, Australia to Singapore. The company is seeking private equity support to build the cable without locking in a large client by selling a big chunk of its capacity on the cheap. 

Trident also recently secured a USD 122 million debt facility. Azure's role comes after it advised iiNet on the company's takeover last year. iiNet's former chief executive David Buckingham, now chief financial officer at Navitas, is believed to be an investor in Trident, the paper said.

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