{"id":397410,"date":"2020-12-10T09:03:40","date_gmt":"2020-12-10T14:03:40","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=397410"},"modified":"2020-12-10T09:03:40","modified_gmt":"2020-12-10T14:03:40","slug":"cibc-to-redeem-debentures","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/cibc-to-redeem-debentures\/","title":{"rendered":"CIBC to Redeem Debentures"},"content":{"rendered":"
\n

Canada NewsWire<\/p>\n<\/p><\/div>\n

\n

\n TORONTO<\/span>, Dec. 10, 2020<\/span> \/CNW\/ –\u00a0CIBC<\/b> (TSX: CM) (NYSE: CM) today announced its intention to redeem all $1.0 billion<\/span> of its 3.42% Debentures Due January 26, 2026<\/span> (Non-Viability Contingent Capital (NVCC)) (subordinated indebtedness) (the “3.42% Debentures”). In accordance with their terms, the 3.42% Debentures will be redeemed at 100% of their principal amount on January 26, 2021<\/span>, together with accrued and unpaid interest up to but excluding the redemption date. Interest on the 3.42% Debentures will cease to accrue from and after the redemption date. <\/p>\n

The redemption will be financed out of the general corporate funds of CIBC. Notice will be delivered to registered holders of the 3.42% Debentures in accordance with the terms outlined in the prospectus supplement for the 3.42% Debentures.<\/p>\n

About CIBC
CIBC is a leading North American financial institution with 10 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets businesses, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada,\u00a0 in the United States<\/span> and around the world. Ongoing news releases<\/a>\u00a0and more information about CIBC can be found at www.cibc.com\/en\/about-cibc\/media-centre.html<\/a>.<\/p>\n

SOURCE CIBC<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

Canada NewsWire TORONTO, Dec. 10, 2020 \/CNW\/ –\u00a0CIBC (TSX: CM) (NYSE: CM) today announced its intention to redeem all $1.0 billion of its 3.42% Debentures Due January 26, 2026 (Non-Viability Contingent Capital (NVCC)) (subordinated indebtedness) (the “3.42% Debentures”). In accordance with their terms, the 3.42% Debentures will be redeemed at 100% of their principal amount on January 26, 2021, together with accrued and unpaid interest up to but excluding the redemption date. Interest on the 3.42% Debentures 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 registered holders of the 3.42% Debentures in accordance with the terms outlined in the prospectus … <\/p>\n

Continue reading “CIBC to Redeem Debentures”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-397410","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nCIBC to Redeem Debentures - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/cibc-to-redeem-debentures\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CIBC to Redeem Debentures - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Canada NewsWire TORONTO, Dec. 10, 2020 \/CNW\/ –\u00a0CIBC (TSX: CM) (NYSE: CM) today announced its intention to redeem all $1.0 billion of its 3.42% Debentures Due January 26, 2026 (Non-Viability Contingent Capital (NVCC)) (subordinated indebtedness) (the “3.42% Debentures”). In accordance with their terms, the 3.42% Debentures will be redeemed at 100% of their principal amount on January 26, 2021, together with accrued and unpaid interest up to but excluding the redemption date. Interest on the 3.42% Debentures will cease to accrue from and after the redemption date. The redemption will be financed out of the general corporate funds of CIBC. 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