Canada Housing Trust closes $4.8 billion public offering

Date Closed: 9/30/2003

Value: $4.8 billion

On September 30, 2003, Canada Housing Trust No. 1 closed a $4.8 billion offering of Canada mortgage bonds, series 6, guaranteed by Canada Mortgage and Housing Corp. (CMHC). The underwriting syndicate was led by CIBC World Markets Inc., and included Merrill Lynch Canada Inc., Scotia Capital Inc., Deutsche Bank AG London and TD Bank.

CMHC and the trust were represented by in-house counsel Douglas Tyler and Reem Hindieh, CMHC, and Ted Fujisawa, executive director, CIBC, the administrator of the trust; and assisted in Canada by BLG, with a team that included Rosalind Morrow (securities and derivatives), Stephen Redican and Gus Karantzoulis (banking and structured finance), Matt Campbell (securities) and Larissa Tkachenko and Jonathan Willson (tax) in Toronto and Daniel Gendron (civil) in Montreal.