Date Closed

September 28, 2005

Lead Office

Toronto

Value

516.00 Million CAD

On September 28, 2005, Schooner Trust completed its eighth public offering of commercial mortgage-backed securities.  The total issue was approximately C$516 million. The pass-through certificates were backed by a diverse pool of (i) 75 commercial mortgages originated by The Toronto-Dominion Bank, First National Financial Corporation, GMAC Commercial Mortgage of Canada, Limited and Laurentian Bank of Canada, and (ii) one senior co-ownership interest in another commercial mortgage loan originated by GMAC Commercial Mortgage of Canada, Limited. TD Securities Inc. acted as the sole underwriter.

McCarthy Tétrault LLP advised Schooner Trust with a team led by Marc MacMullin