CIBC Completes $250M Offering

CIBC completed the offering of $250 million series 26 class A preferred shares in all Canadian jurisdictions pursuant to its existing shelf prospectus. The series 26 preferred shares were priced at $25 to yield 5.75 per cent. The deal closed on January 29, 2003.

Ernest McNee, Shannon O’Hearn and Walied Soliman (corporate/securities) and Chris Van Loan (tax) of Blake, Cassels & Graydon LLP worked with Michelle Caturay, assistant general counsel, CIBC, on behalf of the issuer.

The underwriters for the offering were CIBC World Markets Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc., Scotia Capital Inc., RBC Dominion Securities Inc., TD Securities Inc., Desjardins Securities Inc. and Trilon Securities Corporation. Philip Henderson and Sean Vanderpol (corporate/securities) and Kevin Kelly (tax) of Stikeman Elliott LLP acted for the underwriters.