Tribonian Law Advisors (TLA) has represented the shareholders of subsea network solutions provider Aqua Comms Limited on its $125 million financing led by Nomura, which was advised by Milbank, Tweed, Hadley & McCloy and White & Case.

The funding relates to the development of the America Europe Connect (AEConnect) subsea cable system, a 5,400 km fiber optic cable system connecting North America to Europe. AEconnect, to be delivered by TE SubCom, is scheduled to be ready for service in December this year, and Microsoft is a confirmed client. The initial project investment is expected to be $300 million, with Nomura funding the debt offering.

The TLA team was led by the firm's managing partner Rindala Beydoun, and Carlo Pianese. Irish law firm Philip Lee has also advised AquaComms.