CIBC Completes Preferred Share Offering

Canadian Imperial Bank of Commerce completed the offering of $300 million series 27 non-cumulative class A preferred shares in all Canadian jurisdictions pursuant to its existing shelf prospectus. The shares were priced at $25 to yield 5.6 per cent. The offering closed on September 22, 2003. The underwriters were CIBC World Markets Inc., TD Securities Inc., BMO Nesbitt Burns Inc., National Bank Financial, RBC Dominion Securities Inc., Scotia Capital Inc., Desjardins Securities Inc., HSBC Securities (Canada) Inc., Merrill Lynch Canada Inc. and Trilon Securities Corp.

CIBC, the issuer, was represented by in-house counsel Michelle Caturay, and by Blake, Cassels & Graydon LLP with a team that included Tim Unwin, Ernest McNee, Walied Soliman and Kym Zelinski (corporate/securities) and Chris Van Loan (tax). The underwriters were represented by Philip Henderson and Greg Hogan (corporate/securities) and Lianne Miller (tax) of Stikeman Elliott LLP.