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TransLink secures $150 million in ninth bond issue

2013 Bus Service Performance Review

Some great financial news for TransLink!

TransLink has successfully launched its ninth bond issue in November.

This brings in $150 million for financing capital projects as outlined in the 10-year Investment Plan [1] for Metro Vancouver – Phase One of which was approved by the Mayors’ Council and TransLink Board last month.

This money will directly aide in the implementation of many transit projects including expansions of the network.

Did you know??

TransLink is Canada’s only transportation agency to raise funds directly through Canadian debt capital markets. TransLink has raised $1.33 billion since 2010.

“Our ability to go directly to the capital markets with a solid reputation as a good investment means greater cost certainty for how we manage our debt,” said Cathy McLay, TransLink CFO EVP, Finance and Corporate Services. “Investors can put their money anywhere and they choose us. This consistent demand for our bonds also helps to ensure we maintain access to capital that keeps Metro Vancouver’s road and transit network moving now and into the future.”

In October, Moody’s Investors Service [2] and Dominion Bond Rating Service [3] (DBRS) reaffirmed TransLink’s Aa2 and AA stable credit ratings.

Both agencies highlight TransLink’s diverse revenue streams, solid governance and management practice, and track record of finding cost efficiencies as reasons for the high credit rating.

If you’d like to look further into our credit rating reports, they are available at translink.ca [4].

Author: Adrienne Coling