Canada Housing Trust™ No. 1 completes C$5 billion public offering

Date closed: 3/20/2015

Value: C$5 billion

On March 20, 2015, Canada Housing Trust™ No. 1, a special purpose securitization trust, completed a debt financing consisting of the issuance of 1.200% Canada Mortgage Bonds™, Series 64 in an aggregate principal amount of C$5,000,000,000 of Canada Mortgage Bonds™, which was provided with Canada's sovereign guarantee through Canada Mortgage and Housing Corporation (CMHC).

BLG acted as counsel to CMHC and special counsel to the trust, with a team that included Rosalind Morrow, Francesca Smirnakis and Colin Cameron-Vendrig (corporate and securities), Stephen Redican, Gus Karantzoulis and Aliza Premji (banking and financial services) and Daniel Lang (tax) in Toronto and Johanne Thomas (civil) in Montreal.