1) The document discusses the Australia Japan Cable (AJC) project, a $520 million submarine cable system linking Sydney, Australia to Japan via Guam. 2) Key sponsors of the project were Telstra, Japan Telecom, and Teleglobe. The cable was expected to have an asset life of 15 years. 3) A feasibility study was conducted for the project and found sufficient demand for cable capacity to support a highly leveraged capital structure for the project.