Canada Housing Trust™ No. 1 completes C$5 billion two-tranche debt financing

Date Closed: 2/24/2011

Value: C$5 billion

On February 24, 2011, Canada Housing Trust™ No. 1, a special purpose securitization trust, completed a two-tranche debt financing consisting of the issuance of 3.80% Canada Mortgage Bonds, Series 40, in an aggregate principal amount of $2,500,000,000 and Floating Rate Canada Mortgage Bonds, Series 38 (Re-opening), in an aggregate principal amount of $2,500,000,000 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 Corp. (CMHC).

CMHC was represented in-house by Reem Hindieh and Marc-André Sirois, who were assisted by BLG, counsel to CMHC and special counsel to the trust, with a team that included Rosalind Morrow and Terence Lui (corporate and securities), Stephen Redican, Gus Karantzoulis and Sabrina Kumar (banking and financial services) and Larissa Tkachenko (tax) in Toronto and Johanne Thomas (civil) in Montreal.