Key Equipment Finance was lead arranger for group syndication offering $177.5 million in financing for recently-delivered MV Janet Marie. [Image: Pasha Hawaii]
Superior, Colo., primarily based Key Equipment Finance, a division of KeyFinancial institution, stories that it not too long ago served because the lead arranger of a gaggle syndication offering $177.5 million in financing for Pasha Hawaii’s second LNG-fueled container ship, the recently-delivered MV Janet Marie.
The vessel will be a part of its sister ‘Ohana Class vessel, MV George III, which started service on August 17, 2022, in serving the Hawaii/Mainland commerce lane.
Key Equipment Finance additionally served as lead arranger for the the George III financing
“We are thrilled to work with Pasha Hawaii once again and deliver a financing solution to help with construction of the second LNG-powered vessel to be operated by the company,” stated Phil Turner, government vice chairman and managing director for capital markets, Key Equipment Finance. “This solution was not without challenges, considering world events over the past few years, but Key’s financing team focused on supporting our client, with the backing of a diversified bank group. The highly efficient and expertly designed MV Janet Marie will join MV George III in servicing Hawaii for years to come.”
“We are pleased to complete financing on our second vessel, the MV Janet Marie – another successful deal worked with the skilled team at Key through unconventional times, including an international pandemic, followed by supply chain challenges, labor shortages and uncertain economic times,” stated George Pasha, IV, president and CEO of the Pasha Group, the guardian firm of Pasha Hawaii.
The Key Equipment Finance crew was led by senior VP Brandon Hannaman and Sera Oliver.
“Sera and I also recognize the expertise and collaboration of North American Marine Consultants, LLC and Womble Bond Dickinson LLP’s Jill Davidson throughout this transaction,” stated Brandon Hannaman, senior vice chairman, Key Equipment Finance. “This team was instrumental in seeing this transaction through to closing.”
