McCarthy Tétrault advises on CIBC’s CMHC-Registered Covered Bond Programme

Toronto, August 9, 2013 — McCarthy Tétrault is pleased to announce that it has represented Canadian Imperial Bank of Commerce (CIBC) in the establishment of its C$15 billion Global Covered Bond Programme, and the completion by CIBC of an offering in Europe of an aggregate amount of €1 billion in covered bonds.

Administered by the Canada Mortgage and Housing Corporation (CMHC) in accordance with the Canadian legal framework for covered bonds, CMHC announced in July the registration of two initial covered bond programs. The purpose of the framework is to support financial stability and make the market for covered bonds more robust. Further information on the framework of the program can be found at CMHC.

CIBC was advised by in-house counsel Frank Vivacqua, Assistant General Counsel, and assisted by McCarthy Tétrault LLP with a team led by Marc MacMullin that included Gabrielle Richards, Dean Masse, Mary Jeanne Phelan, Candace Pallone, Jo-Anna Brimmer and Jennifer Organ in Canada and Robert Brant and Andrew Houghton in London, U.K.

McCarthy Tétrault’s capital markets practitioners advise clients in a wide range of industries in sophisticated and innovative domestic, cross-border and international capital-raising transactions. They have leading expertise in structuring securities offerings, regulatory compliance, corporate governance and disclosure issues.

About McCarthy Tétrault

McCarthy Tétrault provides a broad range of legal services, advising on large and complex assignments for Canadian and international interests. The firm has substantial presence in Canada’s major commercial centres and in London, UK.

Built on an integrated approach to the practice of law and delivery of innovative client services, the firm brings its legal talent, industry insight and practice experience to help clients achieve the results that are important to them.