CIT Arranges $70MM Secured Credit Facility for MPC Container Ships

CIT’s maritime finance business served as sole lead arranger on a $70 million senior secured credit facility for MPC Container Ships, a provider in the feeder container ship market segment.

MPC Container Ships operates a fleet of 64 vessels. It can use the financing from the secured credit facility for additional fleet equipment investments, potential acquisitions and general corporate purposes.

“We have worked closely with CIT’s maritime finance in the past and are pleased to continue our association with this latest financing, which supports the operations and growth of our company as a leading provider in the feeder container space,” Constantin Baack, CEO of MPC Container Ships, said.

“We were pleased to leverage our expertise to help empower MPC Container Ships with the financing needed to continue its leadership in the container shipping sector,” Evan Cohen, managing director and group head for CIT’s maritime finance business, said.

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