On the Street: B.C. Ferries bonds, Nanaimo airport CEO retires

B.C. Ferries raises $250 million via bonds

B.C. Ferries has raised $250 million through a senior secured bond issue. The privately placed bonds were sold to institutional investors, including RBC Dominion, BMO Nesbitt Burns, CIBC World Markets, TD Securities and Scotia Capital.

The bonds bear interest at 2.794 per cent annually and are due Oct. 15, 2049.

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The proceeds from the sale of the bonds will be used, together with additional cash on hand, to provide for capital expenditures and general corporate purposes.

Nanaimo Airport CEO Mike Hooper to retire

After 14 years, Mike Hooper will retire in June as chief executive of the Nanaimo Airport.

Hooper has overseen significant growth to the point that 435,000 passengers passed through its gates in 2018. Last year, the airport had an economic impact of $486 million on the region and created 2,750 direct and indirect jobs.

During his tenure, Air Canada and Westjet have both added Nanaimo to their scheduled service, millions have been spent to extend the runway to accommodate large jets and improved instruments have allow for landing in all weather conditions while the terminal building has been enlarged.

“We’ve come a long way,” Hooper said in a statement. “When I started at YCD we had four employees [there are now 28] and now we are proud to be one of the fastest growing airports in Canada.”

The airport commission intends to start the search for a successor immediately and hopes to appoint a new CEO early next year.

Pearson College head to step down

Désirée McGraw, the first woman to serve as president and head of college at Pearson College, is stepping down after her five-year mandate concludes in July.

“After much consideration and family discussion, I have informed the Pearson board of directors that we will be returning home to Montreal next summer. I am grateful to the chair, Anne McLellan, and other directors for their understanding and strong support,” McGraw said.

McLellan said when McGraw was first appointed in 2015, she was not only the first woman to serve as head of college, but she became Pearson’s first president. “Her mandate has been an ambitious one — to renew and re-found Pearson College for the next 50 years of educational leadership, scholarship and service. In addition to her considerable on-campus responsibilities, her external role as college president has meant significant time off campus “raising funds, friends and profile” in re-establishing Pearson as Canada’s school for the world.”

Olo Restaurant honoured

Olo Restaurant on Fisgard Street has been named to a list of Canada’s best 50 restaurants for date night. The list, compiled by OpenTable, was based on an analysis about 500,000 reviews of about 3,000 restaurants across the country.

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