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Article: $11 Billion Issue Is One of Canada's Largest Mortgage Deals.
- Article from:
- Mortgage Line
- Article date:
- May 7, 2008
- Author:
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NEW YORK -- A sale of government-backed Canadian mortgage bonds that appears to be one of the biggest debt offerings of its kind closed March 26, according to White & Case LLP, a legal adviser involved in the sale.
The transaction was C$11 billion in size and roughly the same amount in U.S. dollars.
"The aggregate sale was one of the largest of AAA-rated bonds by an entity other than a U.S. government-related issuer and the largest bond issue in Canadian history," said the law firm, which advised Canada Housing and Mortgage Corp. on the transaction.
When asked about the implications of the issuance of such a relatively large mortgage ...