BC Ferries completes C$200 million refinancing of bonds

Date Closed

October 25, 2013

Lead Office

Vancouver

Value

200.00 Million CAD

On October 25, 2013, BC Ferries announced the closing of a C$200 million senior secured bond issue. The privately placed bonds, which are rated A by DBRS and A+ by Standard & Poor’s, were sold to institutional investors across Canada. The bonds bear interest at a rate of 4.702% per annum and mature on October 23, 2043.

The syndicate of agents consisted of CIBC World Markets Inc., RBC Dominion Securities Inc., BMO Nesbitt Burns Inc., TD Securities Inc. and Scotia Capital Inc.

BC Ferries, headquartered in Victoria, British Columbia, is a Crown corporation that provides all major passenger and vehicle ferry services for coastal and island communities in British Columbia.

McCarthy Tétrault LLP represented BC Ferries, as issuer, with a team led by Linda Brown, and including Robin Mahood.

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