CanEquity Mortgage Canada
Canadian mortgage rates,
mortgage calculator & news.

Canadian Mortgage News

January 2001 National News Archive


Related Links:
National Archive
2001 Archive
January 2001
February 2001
March 2001
April 2001
May 2001
June 2001
July 2001
August 2001
September 2001
October 2001
November 2001
December 2001

CanEquity Mortgage News RSS 2.0 Feed

CanEquity Mortgage News Atom Feed

About RSS and Atom Feeds

Portable Document Format Printable Version Page d'accueil franšais

$2.2 Billion Inaugural Issue of Canada Mortgage Bonds Exceeds Expectations

OTTAWA, Ontario, June 15, 2001 — Canada Mortgage and Housing Corporation announced today the successful inaugural launch of the Canada Mortgage Bonds (CMB) Program.

"We are thrilled with the response of the financial markets to the CMB Program," said CMHC vice president Karen Kinsley. "The initial issue has reached $2.2 billion exceeding our initial expectations of $1.5 billion."

The CMB issue is the largest syndicated bond ever issued in a single tranche in Canada.

"The unprecedented size of this bond issue clearly demonstrates the extent to which investors and Canada's mortgage industry has embraced this new and innovative mortgage funding vehicle," Ms. Kinsley said.

The CMB Program is CMHC's newest housing finance initiative aimed at providing the mortgage market with an alternative and competitive source of funds, which will help to lower mortgage financing costs to Canadians.

Canada Mortgage Bonds have been issued through Canada Housing Trust™. The bonds feature a 5.527% coupon rate and carry the full guarantee of the Government of Canada.

"CMHC is proud of this accomplishment," Ms. Kinsley said. "It shows our commitment to work with our industry partners to continue to improve housing affordability and choice for Canadians."

For more information:

Sharon Matthews
Vice President, Insurance & Securitization
Tel: (613) 748-2251

News source: Canada Mortgage and Housing Corporation (CMHC)


Top of page