£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

Society appeals for help about traditional gypsy caravans on the Island

Do you know of any traditional gypsy caravans on the Island?
Government issues bird flu warning after infected buzzard found

The government's warning people not to touch sick or dead birds after a wild buzzard which died of bird flu was found in a garden near Bride.
Will new UK law be brought in to protect Manx renters from mould?

What consideration is the government giving to bringing in a UK law which protects renters from damp and mould?
Local Economy Forum launched to propose alternative to 'destructive' min wage increase

A Local Economy Forum is being launched to highlight what it's calling the destructive impact of the planned minimum wage increase.
Group raising money towards legal costs for new Summerland inquest

A campaign group is raising funds for a new inquest into the tragic Summerland fire of 1973.
Police appeal after Manx stone wall damaged

Police in the north of the Island are appealing for information after a car hit a stone wall.
MHK wants to see all private healthcare reports

An MHK has asked the Health and Social Care Minister to publish reports on the hospital’s private patient wing and services.
Let’s make Hop Tu Naa a boo-tiful night for all, say police

Police are reminding parents to know what their children are up to this Hop Tu Naa.