First Citizens Bank Provides Navios Maritime Partners $44.2M of Debt Financing
Raleigh, NC-based First Citizens Bank arranged $44.2mn in debt financing for Navios Maritime Partners L.P. through its Maritime Finance business, a part of the CIT division.
Proceeds from the financing, which is secured by product tankers, will be used by Navios Partners to refinance existing debt.
“We previously worked closely with Maritime Finance, and we have come to value their expertise in arranging financing,” said Eri Tsironi, Chief Financial Officer of Navios Partners.
“Navios Partners is admired for their operational and investment expertise in a diverse group of maritime vessels,” added Evan Cohen, Managing Director and Group Head of Maritime Finance.
Maritime Finance, part of First Citizens’ CIT division, offers customized solutions for secured loans to a global client base of vessel owners and operators.