DealsJun 16, 2026, 02:21 PM
CIBC to Issue $2 Billion in Senior Notes
AI Summary
Canadian Imperial Bank of Commerce (CIBC) has entered into an underwriting agreement dated June 8, 2026, for the issuance and sale of US$2 billion in aggregate principal amount of debt securities. This includes US$1 billion of 4.723% Fixed-to-Floating Rate Senior Notes due 2029 and US$1 billion of 5.051% Fixed-to-Floating Rate Senior Notes due 2032. The agreement outlines the terms of the offering, including underwriting fees and conditions for delivery and payment, with CIBC World Markets Corp., BofA Securities, Inc., and Goldman Sachs & Co. LLC acting as representatives for the underwriters.
Key Highlights
- Canadian Imperial Bank of Commerce (CIBC) enters underwriting agreement for debt securities.
- CIBC to issue US$1 billion in 4.723% Fixed-to-Floating Rate Senior Notes due 2029.
- CIBC to issue US$1 billion in 5.051% Fixed-to-Floating Rate Senior Notes due 2032.
- Underwriting fees set at 0.150% for 2029 Notes and 0.350% for 2032 Notes.
- The agreement involves CIBC World Markets Corp., BofA Securities, Inc., and Goldman Sachs & Co. LLC as representatives.
Price Impact
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