By Cristal Cody
Prospect News, Sept. 19 - Canada Housing Trust No. 1 (Aaa/AAA/DBRS: AAA) brought C$5 billion of 2.35% five-year debentures at 99.826 to yield 2.386% on Thursday, according to an informed source.
The debentures due Dec. 15, 2018 priced at a spread of 37.5 basis points over the Government of Canada benchmark.
RBC Capital Markets, BMO Capital Markets Corp., Scotia Capital Inc. and TD Securities Inc. were the lead managers.
The trust is a unit of Canada Mortgage and Housing Corp., which provides financing, mortgage loan insurance, mortgage-backed securities and housing policy and programs.
| Issuer: | Canada Housing Trust
|
| Amount: | C$5 billion
|
| Maturity: | Dec. 15, 2017
|
| Securities: | Debentures
|
| Bookrunners: | RBC Capital Markets, BMO Capital Markets Corp., Scotia Capital Inc. and TD Securities Inc.
|
| Coupon: | 2.35%
|
| Price: | 99.826
|
| Yield: | 2.386%
|
| Spread: | 37.5 bps over Government of Canada benchmark
|
| Pricing date: | Sept. 19
|
| Settlement date: | Sept. 26
|
| Ratings: Moody's: Aaa
|
| Standard & Poor's: AAA
|
| DBRS: AAA
|
| Distribution: | Canada
|
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