Canada Housing Trust™ No. 1 Completes $2.8B Public Offering

On February 24, 2010, Canada Housing Trust™ No. 1, a special-purpose securitization trust, completed a two-tranche debt financing consisting of the issuance of 3.750 per cent Canada Mortgage Bonds, Series 30 (Re-opening), in an aggregate principal amount of $580,000,000 and Floating Rate Canada Mortgage Bonds, Series 31 (Re-opening), in an aggregate principal amount of $2,250,000,000 for a combined total of $2,830,000,000 of Canada Mortgage Bonds, which were provided with Canada's sovereign guarantee through Canada Mortgage and Housing Corp. (CMHC).

CMHC was represented in-house by Reem Hindieh and Marc-André Sirois, who were assisted by Borden Ladner Gervais LLP, counsel to CMHC and special counsel to the trust, with a team that included Rosalind Morrow and Terence Lui (corporate and securities); Stephen Redican, Gus Karantzoulis and Tiffany Murray (banking and financial services) and Larissa Tkachenko (tax) in Toronto; and Johanne Thomas (civil) in Montréal.

In the United States, CMHC and the trust were represented by Kevin Keogh, Sang Ji, Terry O'Brien and Gerret Baur of White & Case LLP.

The underwriting syndicate (for both Series 30 and Series 31) was led by The Toronto-Dominion Bank, CIBC World Markets Inc., National Bank Financial Inc. and RBC Dominion Securities Inc.
Davies Ward Phillips & Vineberg LLP represented the underwriters, with a team that consisted of Carol Pennycook and Sonny Bhalla (corporate and securities) and Ronald Wilson (tax) in Toronto; Scott Tayne (corporate and securities) and Erica Duncan (tax) in New York.

Lawyer(s)

Rosalind Morrow Ronald S. Wilson Tiffany Murray Terence K. Lui Larissa V. Tkachenko Scott Tayne Kevin Keogh Gus Karantzoulis Johanne Thomas Carol D. Pennycook Reem Hindieh Sonny Bhalla Stephen J. Redican Terry O'Brien Marc-André Sirois