Cision PR Newswire

NEW ORLEANS, Nov. 25, 2024 /PRNewswire/ -- Maritime Partners, LLC ("Maritime Partners") has announced the successful closing of a $750 million, first-of-its-kind warehouse facility, which will be collateralized by three wholly owned business lines within one of its managed funds with a syndicate of lenders led by ATLAS SP Partners ("ATLAS"). 

The initial portfolio includes Jones Act tankers, U.S. flagged tankers and other vessels for use in coastal and international trade, and in the future will include an additional fleet of barges, as well as new-build vessels that are or will be operating in inland marine and coastwise trade.

Maritime Partners expects to use the proceeds of this warehouse facility for future acquisitions, as well as refinancings and other general corporate purposes.

"Maritime Partners' new $750-million warehouse line of credit is an important step in the continued growth of our platform," said Bick Brooks, co-founder and CEO of Maritime Partners. 

The line of credit is Maritime Partners' latest transaction with ATLAS, as well as its third debt financing closed in the last two years. Together, Maritime Partners and ATLAS have raised nearly $2 billion in debt financing, with ATLAS serving as lead structurer and underwriter.

"This deal significantly increases our borrowing capacity and demonstrates our best-in-class access to capital with our long-time partners, ATLAS and Deutsche Bank, along with our new lender, Goldman Sachs," Brooks said.

Maritime Partners continues to grow and evolve, setting itself apart as a premier provider of maritime financing solutions in the Jones Act space and wider U.S. maritime industry.

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 100 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 www.maritimepartnersllc.com.

CONTACT:
Steve Bordes
Maritime Partners, LLC
SBordes@maritimepartnersllc.com
(504) 264-5870

View original content to download multimedia:https://www.prnewswire.com/news-releases/maritime-partners-announces-first-of-its-kind-750-million-deferred-draw-warehouse-financing-302315926.html

SOURCE Maritime Partners, LLC