By Aleesia Forni
Virginia Beach, April 29 – CHIP Mortgage Trust priced C$135 million of 2.33% senior medium-term notes, according to a company press release.
The notes are due April 29, 2020 (DBRS: AAA).
The syndicate was led by RBC Capital Markets and Scotia Capital Inc.
CHIP Mortgage Trust plans to use proceeds to refinance outstanding debt, to fund mortgages originated by HomEquity 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
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| Amount: | C$135 million
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| Maturity: | April 29, 2020
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| Securities: | Senior medium-term notes
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| Syndicate: | RBC Capital Markets and Scotia Capital Inc. (lead underwriters), CIBC World Markets Inc., National Bank Financial Inc.
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| Coupon: | 2.33%
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| Ratings: | DBRS: AAA
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