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.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts