​Canada Housing Trust™ No. 1 completes C$4 billion public offering

Date Closed: 2/26/2015

Value: C$4 billion

On February 26, 2015, Canada Housing Trust™ No. 1, a special purpose securitization trust, completed a debt financing consisting of the issuance of 2.550% Canada Mortgage Bonds™, Series 62 (Re-Opening), in an aggregate principal amount of $1,500,000,000 and Floating Rate Canada Mortgage Bonds™, Series 63 (Re-Opening), in an aggregate principal amount of $2,500,000,000 for a combined total of $4,000,000,000 of Canada Mortgage Bonds™, which were provided with Canada's sovereign guarantee through Canada Mortgage and Housing Corporation (CMHC).

BLG acted as counsel to CMHC and special counsel to the trust, with a team that included Rosalind Morrow, Francesca Smirnakis and Colin Cameron-Vendrig (corporate and securities), Stephen Redican, Gus Karantzoulis, Jenna Grant and Aliza Premji (banking and financial services) and Craig Webster (tax) in Toronto and Johanne Thomas (civil) in Montreal.