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Alternative Assets  + CLOs  + Direct Investment  | 
First Citizens Bank Provides Navios Maritime Partners $44.2M of Debt Financing

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.

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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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