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Canada Housing Trust™ No. 1 completes C$5.25B public offering

Date closed: 6/20/2017

Value: C$5.25 billion

On June 20, 2017, Canada Housing Trust™ No. 1, a special purpose securitization trust, completed a debt financing consisting of the issuance of 1.750% Canada Mortgage Bonds™, Series 78 (Re-Opening), in an aggregate principal amount of $5,250,000,000, which was 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 Montreal.