NEW ORLEANS, Sept. 27, 2023 /PRNewswire/ — Maritime Partners, LLC (“Maritime Partners”) has announced the successful closing of 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, L.P. (“ATLAS SP”).
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,” said Bick Brooks, co-founder and CEO of Maritime Partners.
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.
ABOUT MARITIME PARTNERS
Maritime Partners, LLC is a leading provider of maritime financing solutions, specializing in vessels that are used in the domestic Jones Act trade. With a managed fleet of approximately 1,850 vessels in service, we offer tailored leasing services to operators across the full spectrum of credit quality. A privately held company founded in 2015, Maritime Partners, LLC provides the assets that transport the commodities that represent the primary building blocks of the domestic economy, including agricultural products, chemicals, aggregates, crude oil, and refined petroleum products. Our management team leverages more than 50 years of operational experience in chartering, asset management, shipbuilding, and financing across all marine asset classes. To learn more about Maritime Partners, LLC please visit maritime partners llc.
CONTACT:
James Canafax
Maritime Partners, LLC
[email protected]
(504) 264-5870
SOURCE Maritime Partners
