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M&T Bank Agents Expanded Floor Plan Finance Facility for MarineMax

July 14, 2023, 07:31 AM
Filed Under: Marine

MarineMax, the world’s largest recreational boat, yacht, and superyacht services company, announced the expansion of its floor plan facility from $750 million to $950 million, further increasing the Company’s liquidity and financial flexibility for the future.

The amended facility will be used to finance the purchase of new and used boat and yacht inventory. Other than the increased capacity of the floor plan facility, all other terms of the Company’s senior secured credit facilities remain unchanged, including the maturity date of August 2027.

The floor plan financing, which increases the Credit Facilities from $1.35 billion to $1.55 billion, was led by M&T Bank as Administrative Agent and Joint-Lead Arranger, along with Wells Fargo Commercial Distribution Finance as Joint-Lead Arranger and Floor Plan Agent.

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