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SYSTEM RELEASE - Friday, July 15, 2016

Concentra Announces a First for the Co-operative System


REGINA:  On Friday, July 8, 2016 Concentra issued its inaugural syndicated NHA MBS pool in Canadian markets, positioning the company as a notable Canadian market participant.

The total pool size issued to the market was above $375 million, with a term of 5 years. This is the seventh syndicated MBS pool issued in Canada this year, bringing the average pool size in 2016 to $572 million. For comparison, in 2015, there were a total of eight syndicated issuances, with an average pool size just below $320 million.

Concentra is the first in the co-operative system to undertake such an issuance, and the fourth issuer to come to market in 2016. The issuance allows Concentra to gain access to a diversified source of liquidity at an attractive funding rate on a large scale through Canadian markets, which in turn can be used to support the credit union system and meet member needs. The issuance also helps to build name recognition and grow the investor base for Concentra (and indirectly the credit union system) across Canada.  This is crucial as Concentra builds on its position in the Canadian financial landscape.

Historically, issuers of syndicated NHA MBS pools have been large financial institutions. This syndicated NHA MBS issuance is another opportunity to gain valuable market experience while opening access to a new funding source for the credit union system. Concentra looks forward to leveraging the knowledge gained from this experience for credit unions in the future.

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For more information:
Geoffrey Crittenden, VP, Residential & Securitization Markets
Phone: 306-566-7423
Email: geoffrey.crittenden@concentrafinancial.ca  
or to arrange an interview, contact:

Media Inquiries:
Tracy Laschilier Manager, Communications
Phone: 306-227-5061
Email: tracy.laschilier@concentrafinancial.ca