First Citizens Bank Provides $33 Million in Financing to MSea Capital

[By: First Citizens Bank]

First Citizens Bank today announced that its Maritime Finance business arranged up to $33 million for affiliates of MSea Capital to refinance MR product tankers. 

MSea Capital founded in 2012 is an international maritime investment and asset manager with expertise in tanker and commodity shipping. 

"We are very satisfied with the expertise demonstrated by CIT's Maritime Finance team and their support in helping further position our commercial vessels," said Capt. Debashish Bhattacharya, feet managing director at MSea Capital.

“We were pleased to leverage our experience on behalf of MSea, which is well recognized throughout the industry for their success in ship operation and management,” said Evan Cohen, managing director and group head of Maritime Finance at First Citizens Bank. “We look forward to developing this relationship as they continue to grow their portfolio.”   

Maritime Finance offers customized solutions for secured loans to a global client base of vessel owners and operators.