IMC Completes Fifth CMBS Transaction: Strong Interest From U.S. Investors

July 22, 2014

Institutional Mortgage Capital ("IMC") announces the successful completion of its fifth Canadian CMBS issuance (Institutional Mortgage Securities Canada Inc., Series 2014-5 $311.8 million). With this transaction, IMC has now issued a total of $1.339 billion of new Canadian CMBS bonds since 2011.
The IMSCI 2014-5 transaction is the third Canadian CMBS deal in the past 12 months to be marketed in both Canada and the United States and generated strong interest from U.S. investors who acquired more than 35% of the bonds.  In addition, almost 50% of the bonds were sold to new investors who had not previously purchased CMBS bonds off the IMSCI shelf.  The deal was supported by a strong syndicate comprising seven dealers across Canada and the U.S. and was jointly led by RBC Capital Markets (structuring lead), J.P. Morgan Securities and National Bank Financial.

Originally published by CNW. Click here for the full article.