By Cristal Cody
Tupelo, Miss., Oct. 19 – Canadian Imperial Bank of Commerce priced $500 million of 0.95% five-year green senior notes (A2/BBB+/AA-) on Monday at a spread of Treasuries plus 63 basis points, according to a market source.
Initial price talk was in the Treasuries plus 85 bps area.
BofA Securities Inc., CIBC World Markets Corp., HSBC Securities (USA) Inc. and Wells Fargo Securities LLC were the bookrunners.
The notes are non-callable.
Proceeds will be used to finance or refinance eligible green projects, businesses or assets.
The diversified financial institution is based in Toronto.
| Issuer: | Canadian Imperial Bank of Commerce
|
| Amount: | $500 million
|
| Maturity: | Oct. 23, 2025
|
| Description: | Green senior notes
|
| Bookrunners: | BofA Securities Inc., CIBC World Markets Corp., HSBC Securities (USA) Inc. and Wells Fargo Securities LLC
|
| Coupon: | 0.95%
|
| Spread: | Treasuries plus 63 bps
|
| Call feature: | None
|
| Trade date: | Oct. 19
|
| Ratings: | Moody’s: A2
|
| S&P: BBB+
|
| Fitch: AA-
|
| Distribution: | SEC registered
|
| Price guidance: | Treasuries plus 85 bps area
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
