CHIP Mortgage Trust Issues $ 125 Million Medium-Term Bonds


TORONTO, Jul 15, 2021 / CNW / – CHIP Mortgage Trust (“CMT” or “Trust”) announced the completion of the sale today $ 125 million senior medium-term notes (“Notes”). The dealer syndicate for this sale was led by Scotiabank and CIBC Capital Markets and included National Bank Financial Markets, BMO Capital Markets, RBC Capital Markets and TD Securities. Bonds series 2021-1 issued Jul 15, 2021, have a coupon of 1.503%, are rated AAA (sf) from DBRS Limited and have an expected final payout date November 15, 2024

CMT will use the proceeds from this issue to refinance outstanding debt, finance mortgages issued by HomeEquity Bank, and finance ongoing operations.

“We have received significant investor interest in our Notes and have closed another very successful issue with the lowest coupon price of any CMT offering,” he said. Atul Chandra, Executive Vice President and Chief Financial Officer, HomeEquity Bank. “Our bank is demonstrating exceptional operating and financial results that resonate with investors, resulting in strong demand for these bonds and attracting a number of new investors to our program. Medium-term bonds have been and will be a key source of funding for our reverse mortgage business. ”

Forward-looking statements

CMT from time to time makes written and oral forward-looking statements about business objectives, operations, performance and financial condition, including, but not limited to, the projected growth in mortgage lending and the likelihood of success in developing and expanding its business. Forward-looking statements are commonly identified with words such as “will,” “should,” “believe,” “expect,” “forecast,” “expect,” “intend,” “estimate,” “plan,” “may,” and “could “. These statements may be included in CMT’s annual and quarterly reports, regulations, press releases, presentations, and other communications. These forward-looking statements are based on a number of assumptions and estimates that by their nature are subject to significant uncertainties and unforeseen circumstances, many of which are beyond the control of CMT. Uncertainties and unforeseen circumstances include, but are not limited to, risks associated with capital markets and additional funding requirements, credit and underwriting risk, interest rate fluctuations, asset quality and default interest rates, legal and regulatory risk, risk associated with financial derivatives , and dependence on relationships. with financial institutions, as well as those factors that are discussed in the documents submitted to SEDAR. Actual results could differ materially from those expressed or implied in such forward-looking statements. CMT does not undertake to update any forward-looking statements, written or oral, that may be made from time to time, except as required by applicable securities laws.

About CHIP Mortgage Trust

CMT is a wholly owned subsidiary of HomeEquity Bank (the “Bank”). The bank is included in the list of 1 Canadian bank offering CHIP Reverse Mortgage and CHIP Open solutions. The company was founded over 30 years ago as an annuity solution to meet the financial needs of Canadians looking to gain access to the equity capital of their main asset – their home. The bank is committed to empowering Canadians 55 and older to live the retirement they deserve in the home they love. HomeEquity Bank is a portfolio company of Birch Hill Equity Partners Management Inc., a mid-sized private equity firm based in Toronto with more than $ 3 billion in equity under management. For more information visit

Mortgage Fund SOURCE CHIP



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