CIBC announces domestic public offering of C$1.25B of subordinated debentures

On March 25th 2025, Canadian Imperial Bank of Commerce (CIBC) announced that on April 2nd 2035, a domestic public offering of $1.25 billion, of 4.15% NVCC subordinated debentures due 2035. The debentures will bear interest at 4.15% per annum, for five years until April 2 2030, followed by a daily compounded CORRA plus 1.72% per annum until their maturity on April 2 2035. McCarthy Tétrault LLP advised the syndicate of agents on the issue, which included CIBC World Markets Inc. as lead agent, with a team led by Andrew Parker and Jo-Anna Brimmer (Capital Markets) that included Daryna Kutsyna, Dan Schechner, Rita Iafrate (Business), Kabir Jamal, Len Nesbitt, and Benjamin Felsher (Tax).