Canada Housing Trust™ No. 1 completes C$3.55 billion two-tranche debt financing

Date Closed: 8/25/2010

Value: C$3.55 billion

On August 25, 2010, 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 34 (Re-opening), in an aggregate principal amount of $1,300,000,000 and 3.350% Canada Mortgage Bonds, Series 36, in an aggregate principal amount of $2,250,000,000, which were provided with Canada's sovereign guarantee through Canada Mortgage and Housing Corp. (CMHC).

CMHC was represented in-house and assisted by BLG, counsel to CMHC and special counsel to the trust, with a team that included Rosalind Morrow and Terence Lui (corporate and securities), Stephen Redican, Gus Karantzoulis and Tiffany Murray (banking and financial services) and Larissa Tkachenko (tax) in Toronto and Johanne Thomas (civil) in Montreal.