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CMHC PLANS GLOBAL ISSUE

 OTTAWA, Nov. 5 /PRNewswire/ -- Canada Mortgage and Housing Corporation plans to launch a $1 billion, five-year Canadian dollar global bond offering soon, subject to appropriate market conditions, Peter Connolly, senior vice president, and George Hendela, treasurer, announced today.
 The offering will be CMHC's first bond issue and will use the already well established and successful global offering method. The bonds will be distributed simultaneously in Asia, Canada, Europe and the United States. The global method of bond offering is intended to enhance CMHC bonds' liquidity and to facilitate strong domestic and international distribution.
 CMHC's credit is a direct unconditional obligation of and by Canada. CMHC bonds have the same credit quality as Canada bonds and are rated "AAA" by Standard & Poor's and "Asa" by Moody's.
 Proceeds from the issue will be used by CMHC to refinance Social Housing Mortgages currently held by commercial and other lenders.
 Joint lead managers for the issue will be RBC Dominion Securities Inc., Lehman Brothers, ScotiaMcLeod Inc., and Wood Gundy Inc. The full management group will be announced when the issue is launched.
 -0- 11/05/93
 /CONTACT: George Hendela, treasurer, 613-748-2394, or Doug Neish, deputy treasurer, 613-748-2064/


CO: Canada Mortgage and Housing Corporation ST: Ontario IN: FIN SU: ACC

TW -- NY036 -- 1218 11/05/93 12:04 EST
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Publication:PR Newswire
Date:Nov 5, 1993
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