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

Date closed: 8/27/2014

Value: C$5 billion

On August 27, 2014, Canada Housing Trust™ No. 1, a special purpose securitization trust, completed a two-tranche debt financing consisting of the issuance of 2.900% Canada Mortgage Bonds™, Series 58 (Second Re-Opening), in an aggregate principal amount of $2,000,000,000 and Floating Rate Canada Mortgage Bonds™, Series 60 (Re-Opening), in an aggregate principal amount of $3,000,000,000 for a combined total of $5,000,000,000 of Canada Mortgage Bonds™, which were provided with Canada's sovereign guarantee through Canada Mortgage and Housing Corporation (CMHC).

BLG represented CMHC and the trust with a team that included Rosalind Morrow, Mark Lau and Liz Ng (corporate and securities), Stephen Redican, Gus Karantzoulis and Jenna Grant (banking and financial services), Daniel Lang (tax) and Johanne Thomas (civil).