Key Equipment Finance leads $177.5 million Pasha Hawaii financing
Written by Marine Log Staff
Key Equipment Finance was lead arranger for group syndication providing $177.5 million in financing for recently-delivered MV Janet Marie. [Image: Pasha Hawaii]
Superior, Colo., based Key Equipment Finance, a division of KeyBank, reports that it recently served as the lead arranger of a group syndication providing $177.5 million in financing for Pasha Hawaii’s second LNG-fueled container ship, the recently-delivered MV Janet Marie.
The vessel will join its sister ‘Ohana Class vessel, MV George III, which began service on August 17, 2022, in serving the Hawaii/Mainland trade lane.
Key Equipment Finance also 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,” said Phil Turner, executive vice president 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,” said George Pasha, IV, president and CEO of the Pasha Group, the parent company of Pasha Hawaii.
The Key Equipment Finance team 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,” said Brandon Hannaman, senior vice president, Key Equipment Finance. “This team was instrumental in seeing this transaction through to closing.”
