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CIBC to issue $500 million inaugural five-year green bonds
By Wendy Van Sickle
Columbus, Ohio, Oct. 19 – Canadian Imperial Bank of Commerce is planning to sell a $500 million offering of five-year green bonds, according to a news release and a prospectus filed with the Securities and Exchange Commission.
The bonds are non-callable.
BofA Securities Inc., CIBC World Markets Corp., HSBC Securities (USA) Inc. and Wells Fargo Securities LLC are the bookrunners.
This will be the bank's inaugural bond issued under its green bond framework announced in March 2020.
Proceeds will be used to help finance new and existing green projects, assets, and businesses that mitigate the risks and effects of climate change, including: renewable energy, green buildings, clean transportation, natural resource conservation, biodiversity conservation, energy efficiency and pollution prevention and control.
The diversified financial institution is based in Toronto.
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