Maritime Partners closed a $600 million warehouse facility between several special purpose, wholly owned subsidiaries of one of its managed funds and a syndicate of lenders led by ATLAS Securitized Products Holdings.
Proceeds of the warehouse facility have been used to pay off other existing debt and for general corporate purposes.
“Maritime Partners’ new $600-million warehouse line of credit is an important step in the growth and institutionalization of our platform,” Bick Brooks, co-founder and CEO of Maritime Partners, said.
The line of credit is Maritime Partners’ latest deal with ATLAS SP as well as its third financing closed in the last four months. Together, Maritime Partners and ATLAS SP have raised nearly $1.2 billion in financing year to date, with ATLAS SP serving as underwriter.
“This deal significantly increases our borrowing capacity and demonstrates our best-in-class access to capital with our long-time partner ATLAS SP, along with our two new lenders, Deutsche Bank and Bank of America,” Brooks said.
Maritime Partners continues to grow and evolve, setting itself apart as the premier provider of maritime financing solutions, primarily focused on Jones Act Marine vessels.
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