Navios Maritime Partners L.P. Enters into A New Credit Facility with ABN Amro Bank N.V
January 14, 2020 at 02:50 am IST
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On December 12, 2019, Navios Maritime Partners L.P. (the Company) entered into a new credit facility with ABN Amro Bank N.V. (the “ABN Credit Facility”) of up to $23.5 million in order to finance the purchase of five container vessels. The ABN Credit Facility matures on September 30, 2020 and bears interest at LIBOR plus 400 basis points per annum. As of December 31, 2019, the full available amount has been drawn under the ABN Credit Facility. In connection with the acquisition of four bulk carrier vessels, on December 16, 2019, the Company entered into a credit facility with Dory Funding DAC (the “Dory Credit Facility”), of up to $37.0 million. As of December 31, 2019, the full available amount has been drawn under the Dory Credit Facility. The Dory Credit Facility terminates on the third anniversary of the date of the first draw down under the Dory Credit Facility and initially bears interest at LIBOR plus 475 basis points per annum.
Navios Maritime Partners LP is a Monaco-based international owner and operator of dry cargo and container vessels. The Company is engaged in the seaborne transportation services with a range of dry cargo commodities, including iron ore, coal, grain, fertilizer, and containers. It owns and operates its worldwide fleet with a diversified customer base which focuses on providing seaborne shipping services under long-term time charters. Panamax vessels carry a range of dry cargo commodities, including iron ore, coal, grain and fertilizer and being accommodated in various discharge ports. Capesize vessels are dedicated to the carriage of iron ore and coal. Ultra-Handymax vessels works with less carrying capacity and have self-loading and discharging gear on board to accommodate undeveloped ports. It also acts as a trusted partner for industrial end users, ship owners, financial business partners, agents and brokers.
NAVIOS MARITIME PARTNERS L.P. 
