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 (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,” Bick Brooks, co-founder and CEO of Maritime Partners, said.
“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.
