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Canada Housing Trust™ No. 1 completes C$4.75B public offering

Value: C$4.75 billion

On May 25, 2017, Canada Housing Trust™ No. 1, a special purpose securitization trust, completed a two-tranche debt financing consisting of the issuance of 2.350 per cent Canada Mortgage Bonds™, Series 77 (Re-Opening), in an aggregate principal amount of $2,000,000,000 and Floating Rate Canada Mortgage Bonds™, Series 79, in an aggregate principal amount of $2,750,000,000 for a combined total of $4,750,000,000 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 MorrowSienne Lam and Colin Cameron-Vendrig (corporate and securities), Stephen RedicanGus KarantzoulisHannah Dutch, Evita Ferreira and Samantha Tom (banking and financial services) and Craig Webster (tax) in Toronto and Johanne Thomas (civil) in Montréal.