Canada Housing Trust No. 1 closes $2.9 billion bond offering

Date Closed: 9/30/2002

Value: $2.9 billion

On September 30, 2002, Canada Housing Trust No. 1, a special purpose trust, closed a $2.9 billion offering of 5.10 per cent series 3 Canada Mortgage Bonds due September 15, 2007 and guaranteed by Canada Mortgage and Housing Corporation (CMHC), a re-opening of the third series of bonds issued under CMHC's Canada Mortgage Bond programme.

BLG represented CMHC and was special counsel to Canada Housing Trust No. 1, with a team that included Rosalind Morrow (securities and derivatives), Stephen Redican and Gus Karantzoulis (banking and structured finance), Matt Campbell (securities) and Jonathan Willson (tax) in Toronto. Pierre d'Etcheverry of BLG in Montreal provided civil law services.