Canada Housing Trust™ No. 1 compltes C$5 billion a two-tranche debt financing

Date Closed: 8/24/2011

Value: C$5 billion

On August 24, 2011, Canada Housing Trust™ No. 1, a special purpose securitization trust, completed a two-tranche debt financing consisting of the issuance of 3.80% Canada Mortgage Bonds, Series 40 (Second Re-opening), in an aggregate principal amount of $2,500,000,000 and Floating Rate Canada Mortgage Bonds, Series 42 (Re-opening), in an aggregate principal amount of $2,500,000,000 for a combined total of $5,000,000,000 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 Reem Hindieh, who was assisted by BLG, counsel to CMHC and special counsel to the trust, with a team that included Rosalind Morrow, Terence Lui and Mark Lau (corporate and securities), Stephen Redican, Gus Karantzoulis, Tiffany Murray and Sabrina Kumar (banking and financial services) and Natasha Miklaucic (tax) in Toronto and Johanne Thomas (civil) in Montreal.