Canada Housing Trust™ No. 1 completes C$4.75 billion public offering

Date Closed: 11/21/2013

Value: C$4.75 billion

On November 21, 2013, Canada Housing Trust™ No. 1, a special purpose securitization trust, completed a two-tranche debt financing consisting of the issuance of 3.150% Canada Mortgage Bonds™, Series 55 (Re-Opening) in an aggregate principal amount of $2 billion and Floating Rate Canada Mortgage Bonds™, Series 57, in an aggregate principal amount of $2.75 billion for a combined total of $4.75 billion of Canada Mortgage Bonds™, provided with Canada’s sovereign guarantee through Canada Mortgage and Housing Corporation (CMHC).

CMHC was represented 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.