BC Ferries to raise $188m with 30-year bond issue

British Columbia Ferry Services is seeking hundreds of millions of dollars in debt for major spending and day-to-day operations.

The Canadian owner of 36 ferries is working with several banks to issue CAN 250m ($188m) in senior secured bonds by 15 October at 2.794% interest per year.

The banks backing the bonds, which will mature in 30 years, include RBC Dominion Securities, BMO Nesbitt Burns, CIBC World Markets, TD Securities and Scotia Capital.