Canada Housing Trust No. 1 Completes $5B Public Offering

Canada Housing Trust No. 1, a special purpose securitization trust, completed a debt financing consisting of the issuance of 2.050 per cent Canada Mortgage Bonds, Series 46, in an aggregate principal amount of $5,000,000,000, which was provided with Canada's sovereign guarantee through Canada Mortgage and Housing Corporation (CMHC).

CMHC was represented in-house by Reem Hindieh and Audrey Chauvin, who were assisted by Borden Ladner Gervais LLP, counsel to CMHC and special counsel to the trust, with a team including Rosalind Morrow and Terence Lui (corporate and securities); Stephen Redican, Gus Karantzoulis, Tiffany Murray and Jenna Grant (banking & 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 John Donovan, Sang Ji, Terry O'Brien and Steven Gee of White & Case LLP.

The underwriting syndicate Series 46 was led by The Toronto-Dominion Bank, Merrill Lynch Canada Inc., BMO Nesbitt Burns Inc., and RBC Dominion Securities Inc., and Davies Ward Phillips & Vineberg LLP represented the underwriters, with a team that consisted of Carol Pennycook, Sonny Bhalla and Bradley Ashkin (corporate and securities) and Ron Wilson (tax) in Toronto; Scott Tayne (corporate and securities) and Megan Grandinetti (tax) in New York.

Lawyer(s)

Reem Hindieh Johanne Thomas Gus Karantzoulis Sonny Bhalla Stephen J. Redican Carol D. Pennycook Ronald S. Wilson Tiffany Murray Scott Tayne Larissa V. Tkachenko Bradley Ashkin