The American multinational investment bank and financial services company Morgan Stanley has decided to provide an unsecured term loan to The Pasha Group, a family-owned maritime transportation company, to support continued infrastructure investment in the Hawaii trade.
In particular, Morgan Stanley Investment Management (MSIM), through investment funds managed by Morgan Stanley Infrastructure Partners (MSIP), a private infrastructure investment platform within MSIM provided the loan to The Pasha Group, whose largest segment is Pasha Hawaii, an ocean freight and automobile shipping business operating in the United States West Coast-Hawaii shipping market.
Pasha Hawaii provides transportation infrastructure required to support Hawaii’s population, featuring vessels with over 40-year useful lives. With limited on-island inventory and storage capacity in Hawaii, MSIP believes Pasha has established its position in the US-Hawaii trade landscape, securing the delivery of goods to the islands.
Daniel Sailors, managing director for MSIP, stated, “We believe Pasha provides a critical and recurring service to the people of Hawaii and we welcome the opportunity to continue to be a capital partner to the company [Pasha] going forward.”
Kirkland & Ellis LLP served as legal counsel for MSIP and Nixon Peabody LLP served as legal counsel for The Pasha Group, with BofA Securities, Inc. serving as capital markets advisor.
