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Credit Ratings

Agency Long Term Debt Rating Trend Last Update
Standard & Poor's AA- Stable Mar 2017
DBRS A Positive Jan 2017

Check the following websites for more information:
http://www.dbrs.com
http://www.standardandpoors.com

Bond Issues

Instrument Amount
($ millions)
Coupon
(%)
Tenor
(years)
Maturity
Date
Currency
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 200 4.702 30 23-Oct-43 CAD
Senior Secured Bonds 200 4.289 30 28-Apr-44 CAD

Credit Facility

$155 million five-year revolving credit facility with a syndicate of Canadian banks (maturing April 2022).

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.

In 2015, BC Ferries entered into a $135 million loan agreement with KfW IPEX-Bank.  These funds were released in 2016 and 2017 coinciding with the conditional acceptance of the three Salish Class vessels.

Prospectuses

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

English Version (PDF 940K/104 pages) 
French Version (PDF 1076K/106 pages)

6.25% Senior Secured Bonds, Series 04-4, due October 13, 2034 (published October 5, 2004)

English Version (PDF 437K/106 pages)
French Version (PDF 586K/107 pages)

Master Trust Indenture

Master Trust Indenture (PDF 540K/148 pages)

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