CMHC Completes US$500M Global Bond Offering

On February 1, 2005, the Canada Mortgage and Housing Corp. (CMHC) completed the sale of US$500 million aggregate principal amount of 3.875 per cent bonds due April 1, 2010. The bonds were offered through an underwriting syndicate led by Merrill Lynch, Pierce, Fenner & Smith Inc., RBC Capital Markets Corp. and the Toronto-Dominion Bank.

The bonds were offered for sale in the US through a prospectus supplement under CMHC’s existing shelf registration statement and were listed on the Luxembourg Stock Exchange.
CMHC was represented in-house by D.V. Tyler, Louise Michel and Joanne Lucas, and for US matters by Milbank, Tweed, Hadley & McCloy LLP with a team that included Robert Mullen, Jr., and Michael Doak.

The underwriters were represented by Stikeman Elliott LLP with a team that included James Davis in Toronto, Roula Eatrides in Ottawa and Sherry Roth in London, England, and in the US by Davis Polk & Wardwell with a team that included Winthrop Conrad, Jr., Donna Chambers Campbell and Jean Weng.