BC Ferries raises $200 million in bond financing



    VICTORIA, Jan. 11 /CNW/ - BC Ferries announced the closing of a
$200 million senior secured bond issue today.
    The privately placed bonds, which are rated A (low) by DBRS and A- by
Standard & Poor's, were sold to institutional investors across Canada. The
bonds bear interest at 5.581% per annum, and are due January 11, 2038.
    "We are pleased with Canadian investors' response to this significant
bond offering given the current market conditions," stated BC Ferries' Chief
Financial Officer Rob P. Clarke. "This bond offering is an important part of
BC Ferries' major capital renewal program that is well underway."
    The bond syndicate included CIBC World Markets, RBC Capital Markets, BMO
Capital Markets, TD Securities Inc. and Scotia Capital Inc.

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For further information:

For further information: Media Contact: BC Ferries, Media Relations
Victoria: (250) 978-1267


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