a close up of a pen


Canada Housing Trust™ No. 1 completes C$4.25B public offering

Date closed: 2/25/16

Value: C$4.25 billion

On February 25, 2016, Canada Housing Trust™ No. 1, a special purpose securitization trust, completed a two-tranche debt financing consisting of the issuance of 2.250% Canada Mortgage Bonds™, Series 70 (Re-Opening), in an aggregate principal amount of C$2,000,000,000 and Floating Rate Canada Mortgage Bonds™, Series 69 (Re-Opening), in an aggregate principal amount of C$2,250,000,000 for a combined total of C$4,250,000,000 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, Aliza Premji and Arthur Nahas (Banking and Financial Services) and Craig Webster (Tax) in Toronto and Johanne Thomas (Civil) in Montréal.