Skip to content

Investor Relations

The TransLink T sign illuminated at a SkyTrain station

Through sustainable financial management, TransLink creates the stability required for successful long-term planning and delivery of the transportation services and programs to meet the needs of 2.5 million people in Metro Vancouver.

Investing in TransLink

With a service area spanning more than 1,800 square kilometres, we’re dedicated to developing a transportation system that meets the needs of residents, businesses, and goods movers, and promotes the ecological, economic, and social well-being of our region and beyond.

We provide the financial strength and discipline to support our long‐term vision, enable expansion, and maintain access to capital markets in the most cost-effective manner.

Why TransLink:

  • Responsible for a critical transportation system in a global gateway region

  • Region with excellent market growth

  • Leader in corporate sustainability

  • Strong fiscal management and investment-grade ratings

  • Diversified and dedicated revenue sources

  • Government-legislated entity with taxing authority and a debt service safeguard

  • Only issuing transportation authority in Canada

Borrowing Program and Debt Profile

TransLink’s robust borrowing program provides the ability to go directly to capital markets with a solid reputation as a good investment, meaning greater cost certainty for debt management. It gives assurance to credit rating agencies and investors while providing flexibility to TransLink to use both short-term and long-term financing.

TransLink’s debt management policy includes self-imposed debt coverage and debt service coverage limits. TransLink continues to remain within these limits.

A bus driving past a bus stop in front of a forest

Green Bonds

Our Green Bond Program supports our efforts to connect the region and enhance livability by providing a sustainable transportation network. Through this program, we offer fixed-income securities where the proceeds are exclusively applied to projects and activities with environmental benefits.

In October 2025, we issued our sixth Green Bond for $300 million. The transaction was oversubscribed, with 29 investors. Seventy-six (76) per cent of the investors were "Green" (i.e., having specific Green funds or a Green mandate). Ninety-three per cent of demand was concentrated in Canada. This bond is used to fund projects such as SkyTrain extension and station upgrades; SkyTrain car procurement and maintenance; battery electric bus and charging infrastructure procurement and installation; and trolley overhead infrastructure maintenance and replacement.


TransLink’s Green Bond Framework (2026) sets out the guidelines for our Green Bond issuances. The Framework was updated in May 2026, with bond issuances after this date following the updated framework, which is focused on four eligible projects categories: clean transportation, low carbon energy, energy efficiency, and climate adaptation and resilience. The net proceeds are used to finance or refinance capital projects that advance environmental and climate goals in these categories. By investing in Green Bond offerings, we deliver tangible and sustainable outcomes, both financially and environmentally, including reductions to our carbon footprint.

The Framework aligns with the International Capital Market Association Green Bond Principles, which promote integrity in the market through transparency, disclosure, and reporting. The 2026 Framework received a Second Party Opinion from Moody’s Ratings. All issuances in 2026 and onward will align with the 2026 Framework.

Green Bond Framework Reports

Credit Rating

Solid fiscal management has reaffirmed TransLink's strong and stable credit ratings by Moody's and DBRS.

Agency Commercial Paper Senior Debt General Obligation Outlook
DBRS Limited R-1 mid AA AA Stable
Moody's Investors Service Not rated Aa2 Aa2 Negative

Moody's Report

DBRS Report

TransLink is the only non-corporate transit agency that directly raises funds through Canadian debt capital markets to finance capital projects in a timely, efficient manner. Since 2010, TransLink has raised more than $2.78 billion from longer-term issuance in the bond market.

Resources

  • Investors can learn more in our current Investor Presentation and our Green Bond Investor Presentation.

  • TransLink’s Annual Reports highlight the accomplishments of each fiscal period.

  • The Board of Directors meets publicly four times a year and shares their Meetings and Reports.

  • Some of our funding sources include Property Tax and Parking Tax.

  • TransLink’s 10-Year Investment Plan identifies the transportation services, key initiatives, and proposed capital investments and outlines how these expenditures will be funded.

  • Our 30-year Regional Transportation Strategy outlines how we will keep people and our economy moving, strengthen our communities, and protect the environment.

  • A summary of our Bond offering is available in the Information Memorandum.