Canada Housing Trust™ No. 1 completes a C$5 billion debt financing

Date Closed: 9/23/2011

Value: C$5 billion

On September 23, 2011, Canada Housing Trust™ No. 1, a special purpose securitization trust, completed a debt financing consisting of the issuance of 1.850% Canada Mortgage Bonds, Series 43, in an aggregate principal amount of $5,000,000,000, which was 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.