CHIP Master Term Trust completed, on June 5, 2002, a $125 million public offering of five-year term, mortgage-backed notes. The trust is a special purpose trust established to acquire interests in securitization partnerships that hold reverse mortgages they have originated or have purchased from Canadian Home Income Plan Corporation. The 5.611 per cent notes have an expected repayment date of November 15, 2007. The notes were issued at par and are rated AAA by Dominion Bond Rating Service Limited and Standard & Poor’s.
Torys LLP acted for Canadian Home Income Plan and the trust, with a team that included GuyLaine Charles, Michael Feldman and John Unger (tax) and Amanda Roelofsen. The underwriters, Scotia Capital Inc., National Bank Financial Inc., RBC Dominion Securities Inc. and TD Securities Inc., were represented by Osler, Hoskin & Harcourt LLP, with a team consisting of Phil Heath, Andrew Aziz and Eleanor Farrell.
Torys LLP acted for Canadian Home Income Plan and the trust, with a team that included GuyLaine Charles, Michael Feldman and John Unger (tax) and Amanda Roelofsen. The underwriters, Scotia Capital Inc., National Bank Financial Inc., RBC Dominion Securities Inc. and TD Securities Inc., were represented by Osler, Hoskin & Harcourt LLP, with a team consisting of Phil Heath, Andrew Aziz and Eleanor Farrell.
