By Devika Patel
Knoxville, Tenn., Dec. 15 – CHIP Mortgage Trust issued C$250 million of 1.738% senior medium-term notes (DBRS: AAA), according to a company press release.
The notes are due Dec. 15, 2025.
The dealer syndicate was led by Scotia Capital Inc. and CIBC World Markets Corp.
CHIP Mortgage Trust plans to use proceeds to refinance outstanding debt, to fund mortgages originated by HomeEquity Bank and to fund ongoing operations.
The trust, a subsidiary of HomEquity Bank, finances a portion of the company's mortgage portfolio with medium-term notes.
| Issuer: | CHIP Mortgage Trust
|
| Amount: | C$250 million
|
| Maturity: | Dec. 15, 2025
|
| Securities: | Senior medium-term notes
|
| Syndicate: | Scotia Capital Inc. and CIBC World Markets Corp. (lead underwriters), National Bank Financial, BMO Nesbitt Burns, RBC Dominion Securities and TD Securities
|
| Coupon: | 1.738%
|
| Ratings: | DBRS: AAA
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
