MDM announces $500M financing and development of two transatlantic subsea cable systems linking Ireland to the US
Type: Financing · Technology: Telecom · Country: Ireland, United States · Value: $500M · Announced: 2026-08-11
McMahon Design and Management (MDM) announced a $500 million financing package for two new transatlantic subsea cable systems, Narwhal 1 and Narwhal 2, connecting Ireland to the United States. Narwhal 1 will run from Galway, Ireland, to Long Island, New York, with a provisional ready-for-service (RFS) date of Q3 2029, while Narwhal 2 will connect southern Ireland to New Jersey with an RFS target of 2030. The project is funded through private equity alongside unnamed industry partners, with MDM currently developing permit applications and procuring marine services. These cable systems will interconnect with MDM's under-development Pisces System, which links Ireland to Europe, and other submarine cable systems connecting Ireland to the UK and Norway.
Counterparties
- Private equity (Lender)
- Industry partners (Lender)
- McMahon Design and Management (MDM) (Developer)
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