Press release from CNW Group
CIBC to redeem subordinated indebtedness
Tuesday, April 09, 2013
CIBC to redeem subordinated indebtedness17:12 EDT Tuesday, April 09, 2013
TORONTO, April 9, 2013 /CNW/ - CIBC (TSX: CM) (NYSE: CM) today announced its intention to redeem all $550,000,000 of its 5.15% Medium Term Notes (subordinated indebtedness) due June 6, 2018 (the "Notes"). In accordance with their terms, the Notes will be redeemed at 100% of their principal amount on June 6, 2013, together with accrued and unpaid interest to but excluding the redemption date. Interest on the Notes will cease to accrue from and after the redemption date. The redemption will be financed out of the general corporate funds of CIBC.
Notice will be delivered to holders of the Notes in accordance with the terms outlined in the Notes prospectus.
For further information:
Jason Patchett, CIBC Investor Relations, (416) 980-8691 or Mary Lou Frazer, CIBC Communications and Public Affairs, 416-980-4111.