Virgin Voyages, the new Miami based cruise ship venture in Sir Richard Branson’s Virgin Group in London, says its contract to build three 110,000 gross ton ships at Fincantieri is now a firm order and a financing package to be in place soon.

“Virgin Voyages, backed by lead investors Bain Capital Private Equity and Virgin Group, expects the multi-billion dollar financing package for the purchase of its three ships to be finalised shortly,” the company said in a statement.

“The lead lending partners will be Cassa depositi e prestiti (Cdp) and UniCredit, and the loan will be fully backed by Italian export credit agency SACE and supported by SIMEST, both subsidiaries of Cdp.,” Virgin Voyages added.

The keel of the first ship wikll be laid at the Sestri Ponente shipyard of Fincantieri in Genoa in the final quarter of next year and the ship will enter service with Miami as its base in 2020.