IMC Completes Sixth CMBS Transaction: Investors Again Recognize IMC Quality as Spreads Compress

TORONTO, March 6, 2015 /CNW/ - Institutional Mortgage Capital ("IMC") announces the successful completion of its sixth Canadian CMBS issuance (Institutional Mortgage Securities Canada Inc., Series 2015-6, $325.4 million). With this transaction, IMC has now issued a total of $1.7 billion of new Canadian CMBS bonds since 2011.

IMC is the leading originator of Canadian CMBS and has a well-deserved reputation of bringing new issues to market that feature strong and uniform underwriting fundamentals across its entire mortgage pool.  The IMSCI 2015-6 transaction continues this practice with 100% of the mortgage pool being originated by IMC.

The IMSCI 2015-6 transaction is the first Canadian conduit deal in 2015.  IMC expects at least 5 additional Canadian CMBS deals this year.  In 2014, 4 separate issuers (including IMC and new entrant RBC) brought CMBS transactions to market totaling more than $1.1 billion.  IMC expects these Canadian issuers to continue to grow their market share and to successfully challenge other Canadian credit products for investor capital.

IMC is unique in the CMBS industry.  As a major issuer of Canadian CMBS bonds, IMC also invests in the first loss position (commonly called the "B-piece") in its own CMBS transactions.  IMC believes strongly in the credit quality of the mortgages it originates and the performance of Canadian commercial mortgage loans. 

IMC was established in 2009 and operates as an exempt market dealer and investment fund manager with expertise in Canadian real estate debt and related securities.  It originates and services commercial mortgage loans in all Canadian provinces.

SOURCE Institutional Mortgage Capital Canada Inc.

For further information: Charles Gamm, 416-814-2585