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

Canada Housing Trust No. 1, a special purpose securitization trust, completed a two-tranche debt financing consisting of the issuance of Floating Rate Canada Mortgage Bonds, Series 50 (Re-Opening), in an aggregate principal amount of $3,000,000,000 and 2.400 per cent Canada Mortgage Bonds, Series 48 (Second Re-Opening), in an aggregate principal amount of $2,000,000,000 for a combined total of $5,000,000,000 of Canada Mortgage Bonds, which were provided with Canada's sovereign guarantee through Canada Mortgage and Housing Corporation (CMHC).

CMHC was represented in-house by Sébastien Gignac, 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 that included Rosalind Morrow and Mark Lau (corporate and securities); Stephen Redican, Gus Karantzoulis and Jenna Grant (banking and financial services) and Larissa Tkachenko (tax) in Toronto; and Johanne Thomas (civil) in Montreal.

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 (for both Series 50 (Re-Opening) and Series 48 (Second Re-Opening)) was led by BMO Nesbitt Burns Inc., CIBC World Markets Inc., RBC Dominion Securities Inc. and The Toronto-Dominion Bank, 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 Neal Armstrong (tax) in Toronto; and Scott Tayne (cor-porate and securities) and Candice Turner (tax) in New York.

Lawyer(s)

Scott Tayne Neal H. Armstrong Bradley Ashkin Larissa V. Tkachenko Carol D. Pennycook Gus Karantzoulis Johanne Thomas Sonny Bhalla Stephen J. Redican Rosalind Morrow Candice Turner