Vedder Price Advises Maritime Partners on $235.3MM Securitization

Vedder Price represented Maritime Partners, a maritime leasing and finance company primarily focusing on vessels operating on inland waterways under the Jones Act, as sponsor in MP 2023-1, a term securitization transaction involving the issuance of $235.3 million of secured vessel notes secured by a portfolio of 316 inland marine barges and towboats.

This is Maritime Partners’ inaugural securitization transaction and, according to Vedder Price, the first capital markets issuance comprised entirely of inland marine vessels.

The Vedder Price team was led by Clay C. Thomas, global transportation finance shareholder, and included John F. Imhof Jr. and Joel R. Thielen (global transportation finance shareholders), John T. Blatchford (shareholder and co-chair of the securities and capital markets group), Matthew P. Larvick (tax shareholder), and John H. Geager and Nathan M. Telep (global transportation finance associates).

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