BC Ferries selling $250M in bonds to fund capital expenditure

BC Ferries has announced that is issuing $250 million in senior secured bonds.

They will return 2.794% a year in interest, the corporation said.

The bonds will mature in 30 years.

BC Ferries has entered into an agency agreement with a syndicate of investment banks to issue the bonds.

The issue will close on Oct. 15.

Money raised from the sales will be used for capital expenditures and general corporate purposes.