CARDS II Trust completed a sale of Series 2013-1 1.984 per cent Credit Card Receivables Backed Class A Notes in the amount of $1,000,000,000 (the “Class A Notes”) and Series 2013-1 2.784 per cent Credit Card Receivables Backed Class B Notes in the amount of $69,591,000.
CARDS II Trust is a special purpose securitization vehicle that issues credit card receivables backed notes to finance the purchase of credit card receivables originated by Canadian Imperial Bank of Commerce (“CIBC”).
The offering of the Series 2013-1 Notes was made by CIBC World Markets Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc., RBC Dominion Securities Inc., Scotia Capital Inc., TD Securities Inc., Desjardins Securities Inc., Brookfield Financial Corp. and HSBC Securities (Canada) Inc. (collectively, the “Dealers”).
CIBC was represented by Frank Vivacqua, Assistant General Counsel of CIBC. McCarthy Tétrault LLP acted as counsel to CIBC and CARDS II Trust with a team that included Marc MacMullin, Dean Masse, and Jennifer Organ (corporate) and Gabrielle Richards (tax).
The Dealers were represented by Stikeman Elliott LLP with a team that included Mark McElheran and Javier Gonzalez.