£79m loan refinancing 'will help Steam Packet' says minister

Thursday, 27 March 2025 07:10

Treasury Minister Alex Allinson says refinancing a £75 million Steam Packet loan with a government bond will help the ferry firm plan for the future.

In the House of Keys this week, he faced questions from Douglas Central MHK Chris Thomas, who wanted to know how the £400 million bond was spent in 2021.

Dr Allinson said almost £79 million went towards refinancing the loan which bought the Manxman, borrowing at a fixed interest rate.

He said that arrangement would help the government-owned company:

More from Isle of Man News

Electric vehicle charger policy

Is there a government policy about electric vehicle chargers in government homes?
Marown toilet row

Marown Commissioners say they haven't tried to force a playing fields organisation to take over the village's only public toilet.
Opening of sexual health centre a Manx Care success

Manx Care says a new sexual health clinic are among its biggest successes of last year.
Lord Bishop to open festival

The Island's Lord Bishop Tricia Hillas will officially open this year's Beer and Cider Festival!
Chickenpox spreading

Public Health Isle of Man is warning parents to be on the lookout for chickenpox.
Tourist accommodation registrations have grown by 13%

The number of bed spaces available for tourists has grown by 3.6 per cent in the last four years, according to Enterprise Minister Tim Johnston.
Charity urges sea users to respect dolphins

The charity Manx Dolphin and Whale Watch are urging sea users to respect resident dolphins Moonlight and Starlight.
Work planned for the capital's sewage system

Manx Utilities says motorists face six months of misery as it improves the capital's sewage system.