Investor Relations Debt Info

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BC Ferries' Investor Relations

Debt Information

Credit Ratings

Agency

Long Term
Debt Rating

Trend

DBRS

A (low)

Positive

Standard & Poor's

A-

Positive

S&P Press Release - November 2008 (PDF 422 K/5 pages)
DBRS Press Release - November 2008 (PDF 98K/2 pages)

Bond Issues

Instrument

Amount
($ millions)

Coupon
(%)

Tenor
(years)

Maturity
Date

Currency

Senior Secured Bonds

250

5.74

10

27-May-14

CAD

Senior Secured Bonds

250

6.25

30

13-Oct-34

CAD

Senior Secured Bonds

250

5.021

30

20-Mar-37

CAD

Senior Secured Bonds

200

5.581

30

11-Jan-38

CAD

Senior Secured Bonds

140

6.214

5

19-Dec-13

CAD

Credit Facility

Effective May 2008, $155 million five-year revolving credit facility with a syndicate of Canadian banks.

Other Loans

In 2005, BC Ferries entered into loan agreements which make up to $180 million available to finance the purchase of two "Super C" class vessels. These funds were released coinciding with the conditional acceptance dates of the vessels.

In 2009, BC Ferries entered into a $108 million loan agreement with KfW IPEX-Bank. These funds were released coinciding with the conditional acceptance of the Northern Expedition.

Prospectuses

5.74% Senior Secured Bonds, Series 04-1, due May 27, 2014 (published May 19, 2004)