CIBC Capital Trust Issues $1.6B of Debt Securities Through CIBC

On March 13, 2009, CIBC Capital Trust, through CIBC, issued $1.6 billion of debt securities. It was the first innovative tier-one capital offering by CIBC. The offering was underwritten by a syndicate of underwriters, led by CIBC World Markets Inc., that included TD Securities Inc., BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., Scotia Capital Inc., National Bank Financial Inc., HSBC Securities (Canada) Inc., Desjardins Securities Inc., Laurentian Bank Securities Inc. and Merrill Lynch Canada Inc.

CIBC was represented by in-house counsel Eddy Mezzetta and by Ernest McNee, Jennifer Woo, Mostafa Asadi, Kym Zelinski (securities), Paul Belanger (regulatory), Chris Van Loan and Bryan Bailey (tax), Hélène Barette and Claire-Hélène Lavigne, (translation) of Blake, Cassels & Graydon LLP.

The underwriters were represented by Barry Ryan, David Judson (securities) and Gabrielle Richards and James Morand (tax) of McCarthy Tétrault LLP.