Canada Housing Trust™ No. 1 completes C$5.5 billion two-tranche debt financing

Date Closed: 2/23/2012

Value: C$5.5 billion

On February 23, 2012, Canada Housing Trust™ No. 1, a special purpose securitization trust, completed a two-tranche debt financing consisting of the issuance of 2.650% Canada Mortgage Bonds, Series 45 (Re-opening), in an aggregate principal amount of $2,500,000,000 and Floating Rate Canada Mortgage Bonds, Series 44 (Re-opening), in an aggregate principal amount of $3,000,000,000 for a combined total of $5,500,000,000 of Canada Mortgage Bonds, which were provided with Canada’s sovereign guarantee through Canada Mortgage and Housing Corporation (CMHC).

CMHC was represented in-house by 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, Terence Lui and Mark Lau (corporate and securities), Stephen Redican, Gus Karantzoulis, Tiffany Murray, Sabrina Kumar Ceccarelli and Jenna Grant (banking and financial services) and Larissa Tkachenko (tax) in Toronto and Johanne Thomas (civil) in Montreal.