Date Closed

January 11, 2008

Lead Office

Vancouver

Value

200.00 Million CAD

On January 11, 2008, British Columbia Ferry Services Inc. completed a C$200 million offering of 5.581% senior secured bonds due January 11, 2038. The lead agent for the offering was CIBC World Markets Inc. The other agents were RBC Dominion Securities Inc., BMO Nesbitt Burns Inc., TD Securities Inc. and Scotia Capital Inc. The offering was effected on a private placement basis in Canada only.

BC Ferries was represented by McCarthy Tétrault LLP with a team that included Byran Gibson, QC, Linda Brown, Michael Urbani, Salima Datoo and Jessica Beverley.