Canada Housing Trust™ No. 1 completes C$4.65 billion two-tranche debt financing

Closing Date: 8/22/2012

Value: C$4.65 billion

On August 22, 2012, Canada Housing Trust™ No. 1, a special purpose securitization trust, completed a two-tranche debt financing consisting of the issuance of Floating Rate Canada Mortgage Bonds, Series 47 (Re-opening), in an aggregate principal amount of $2.4 billion and 2.400 per cent Canada Mortgage Bonds, Series 48, in an aggregate principal amount of $2.25 billion for a combined total of $4.65 billion of Canada Mortgage Bonds, which were provided with Canada’s sovereign guarantee through Canada Mortgage and Housing Corporation (CMHC).

CMHC was represented in-house and by BLG, counsel to CMHC and special counsel to the trust, with a team that included Rosalind Morrow and Mark Lau (corporate and securities), Stephen Redican, Gus Karantzoulis, Tiffany Murray and Jenna Grant (banking and financial services) and Daniel Lang (tax) in Toronto and Johanne Thomas (civil) in Montreal.