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

Date Closed: 6/28/2013

Value: C$5 billion

On June 28, 2013, Canada Housing Trust™ No. 1, a special purpose securitization trust, completed a debt financing consisting of the issuance of 2.05 per cent Canada Mortgage Bonds™, Series 54 in an aggregate principal amount of $5 billion, which was provided with Canada’s sovereign guarantee through Canada Mortgage and Housing Corporation (CMHC).

CMHC was represented in-house by Sébastien Gignac, Reem Hindieh and Audrey Chauvin, who were assisted by BLG, counsel to CMHC and special counsel to 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) and Craig Webster (tax) in Toronto and Johanne Thomas (civil) in Montreal.