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CIBC completes issuance of C$750M NVCC AT1 Limited Recourse Capital Notes, Series 2

Date Closed

September 14, 2021

Lead Office

Toronto

Value

750.00 Million CAD

On September 14, 2021, the Canadian Imperial Bank of Commerce (CIBC) closed its issuance of C$750 million aggregate principal amount of 4.000% Limited Recourse Capital Notes, Series 2 (Non-Viability Contingent Capital (NVCC)) (Subordinated Indebtedness). The syndicate of agents in the offering was led by CIBC World Markets Inc. and included Desjardins Securities Inc., Laurentian Bank, Securities Inc., BMO Nesbitt Burns Inc., J.P. Morgan Securities Canada Inc., National Bank Financial Inc., RBC Dominion Securities Inc., Scotia Capital Inc., TD Securities Inc., Merrill Lynch Canada Inc., Wells Fargo Securities Canada, Ltd., HSBC Securities (Canada) Inc., iA Private Wealth Inc., and Manulife Securities Incorporated.

Canadian Imperial Bank of CIBC World Markets Inc. is the investment banking subsidiary of the Canadian Imperial Bank of Commerce that operates as an investment bank both in the domestic and international equity and debt capital markets.

McCarthy Tétrault advised a syndicate of agents led by CIBC World Markets Inc. with a team co-led by Andrew Parker and Jo-Anna Brimmer that included Michael Shahinian, Daanish Pasricha (Business), Gabrielle Richards, and Kabir Jamal (Tax).

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