By Cristal Cody
Prospect News, Oct. 20 - The Canadian Imperial Bank of Commerce sold C$1.5 billion 3.15% 10-year debentures on Wednesday, sources said.
The debentures were priced at a spread of 134 basis points over the Canadian benchmark bond to yield 3.196%.
CIBC World Markets Inc. was the lead bookrunner.
The debentures may be redeemed at CIBC's option at par on or after Nov. 2, 2015.
The bank is based on Toronto.
| Issuer: | Canadian Imperial Bank of Commerce
|
| Issue: | Debentures
|
| Amount: | C$1.5 billion
|
| Maturity: | Nov. 2, 2020
|
| Bookrunner: | CIBC World Markets Inc.
|
| Coupon: | 3.15%
|
| Yield: | 3.196%
|
| Spread: | 133 bps over Canada benchmark
|
| Call: | Beginning Nov. 2, 2015 at par
|
| Distribution: | Canada
|
| Trade date: | Oct. 20
|
| Settlement date: | Nov. 2
|
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