Published on 2/12/2015 in the Prospect News Canadian Bonds Daily and Prospect News Investment Grade Daily.
New Issue: CIBC sells C$750 million two-year floating-rate notes at CDOR plus 42 bps
By Cristal Cody
Tupelo, Miss., Feb. 12 – Canadian Imperial Bank of Commerce (Aa3/A+/DBRS: AA) priced C$750 million of two-year floating-rate notes at 42 basis points plus CDOR, according to a market source.
CIBC World Markets Inc. was the bookrunner.
The financial institution is based in Toronto.
| Issuer: | Canadian Imperial Bank of Commerce
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| Amount: | C$750 million
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| Maturity: | 2017
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| Securities: | Floating-rate notes
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| Bookrunner: | CIBC World Markets Inc.
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| Spread: | 42 bps plus CDOR
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| Pricing date: | Feb. 11
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| Ratings: Moody’s: Aa3
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| Standard & Poor’s: A+
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| DBRS: AA
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| Distribution: | Canada
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