Canada Housing Trust™ No. 1 completes C$4.5 billion public offering

Date Closed: 5/22/2014

Value: C$4.5 billion

On May 22, 2014, Canada Housing Trust™ No. 1, a special purpose securitization trust, completed a two-tranche debt financing consisting of the issuance of 2.900% Canada Mortgage Bonds™, Series 58 (Re-Opening), in an aggregate principal amount of $2,000,000,000 and Floating Rate Canada Mortgage Bonds™, Series 60, in an aggregate principal amount of $2,500,000,000, for a combined total of $4,500,000,000 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 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, Stephen Redican, Gus Karantzoulis and Jenna Grant and Craig Webster in Toronto and Johanne Thomas in Montreal.