By Cristal Cody
Prospect News, Oct. 14 - The Canadian Imperial Bank of Commerce (Aa2/A+/AA-) sold $450 million in a reopening of its 2.35% senior notes due Dec. 11, 2015 at 100.222 to yield 2.293% on Friday, according to a FWP filing with the Securities and Exchange Commission.
The notes due Dec. 11, 2015 priced at a spread of 120 basis points over Treasuries.
Barclays Capital Inc. was the bookrunner.
Proceeds will be added to the bank's funds and will be used for general corporate purposes.
The issue originally priced on Dec. 6, 2010 at a spread of 85 bps over Treasuries.
| Issuer: | Canadian Imperial Bank of Commerce
|
| Amount: | $450 million
|
| Maturity: | Dec. 11, 2015
|
| Securities: | Senior notes
|
| Bookrunner: | Barclays Capital Inc.
|
| Coupon: | 2.35%
|
| Price: | 100.222
|
| Yield: | 2.293%
|
| Spread: | 120 bps over Treasuries
|
| Pricing date: | Oct. 14
|
| Settlement date: | Oct. 21
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: A+
|
| Fitch: AA-
|
| Distribution: | Off shelf
|
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