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Centrus advises Red Funnel on lease financing of Red Jet 7

Red Funnel, the Southampton to Isle Of Wight ferry operator, has ordered a new high-speed passenger ferry to be named Red Jet 7.

Red Jet 7 will operate on the Southampton-West Cowes route and will increase passenger capacity by 51% which means the Hi-Speed Red Jet service can carry up to 825 passengers per hour in each direction at peak times of the year.  The vessel is under construction and is expected to be operational from summer 2018.

Centrus acted as financial advisor to Red Funnel and arranged the lease financing of Red Jet 7. Centrus ran a competitive tender for the financing and advised Red Funnel throughout the negotiation and closing of the transaction.

Darren Hawkins, Managing Director Centrus We are delighted to have assisted Red Funnel in successfully closing the lease financing of Red Jet 7 and look forward to working with Red Funnel again in developing their lease financing plans.

Centrus offers financial arranging and advisory services to the international shipping markets. We cover a variety of shipping assets and a range of market segments. We provide proprietary and cutting-edge services, tailor-made to meet clients’ needs, whether it is new finance or restructuring existing facilities. Learn more about our presence in the Shipping sector here.