Canada Housing Trust™ No. 1's $8.125B Public Offering

On December 21, 2006, Canada Housing Trust™ No. 1, a special purpose securitization trust, issued 3.95 per cent Canada Mortgage Bonds, Series 15 in an aggregate principal amount of $8.125 billion, which were provided with Canada's sovereign guarantee through Canada Mortgage and Housing Corp. (CMHC).

CMHC was represented in-house by Reem Hindieh, Louise Michel and Marc-André Sirois, who were assisted by Borden Ladner Gervais LLP, special counsel to the trust, with a team that included Rosalind Morrow, Adam Segal and Emma Miller (securities and derivatives), Stephen Redican, Gus Karantzoulis and Terence Lui (banking and structured finance) and Larissa Tkachenko (tax) in Toronto, and Daniel Gendron (civil) in Montreal.

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

The underwriters, led by RBC Dominion Securities Inc., CIBC World Markets Inc., Merrill Lynch Canada Inc., Scotia Capital Inc. and The Toronto-Dominion Bank, were represented by Davies Ward Phillips & Vineberg LLP. The Davies team consisted of Carol Pennycook and Sonny Bhalla (corporate and securities) and Ron Wilson (tax) in Toronto, and Scott Tayne (securities) and Candice Turner (tax) in New York.