CIBC Completes Preferred Share Offering

Canadian Imperial Bank of Commerce completed the offering of $400 million series 25 class A preferred shares in all Canadian jurisdictions pursuant to its existing shelf prospectus on April 17, 2002. The series 25 shares were priced at $25 to yield 6 per cent.

Tim Unwin, Ernest McNee, John Wilkin and Kym Zelinski (corporate/securities) and Chris Van Loan (tax) of Blake, Cassels & Graydon LLP worked with Michelle Caturay, senior counsel, CIBC, on behalf of the issuer.

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