TD Buys 50 Per Cent of CIBC Aeroplan Credit Card Portfolio

Aimia Inc., TD Bank Group, and Canadian Imperial Bank of Commerce (CIBC) entered into a series of agreements providing for the sale by CIBC of an approximately one-half of its $6-billion securitized Aeroplan credit card portfolio to TD and new long term affinity arrangements with Aimia under which TD will become Aimia's primary Aeroplan card issuer, CIBC will continue to be an Aeroplan card issuer, and holders of TD Aero-plan cards and CIBC Aeroplan cards will derive benefits from Aimia's enhanced Aeroplan travel rewards program, including the launch of Distinction.

The transaction, which has an aggregate value of approximately $3.3 billion, resulted from a process arising from the expiry on December 31, 2013, of the Aeroplan contract between Aimia and CIBC.

Aimia was represented by an internal team that included Deborah Greenberg, Mark Hounsell, Stephanie Rich, Edouard Vo-Quang and Rossana Di Fabrizio; and by Stikeman Elliott LLP with a team that included Craig Mitchell, Brian Pukier, Jeff Brown, Megan MacDonald, Alan Kenigsberg, David Elder and Justine Whitehead.

TD was represented by an internal team that included Leslie Johnson, Diana Cebrick, Rita DiLuca and Faeron Trehearne; by Simpson Thacher & Bartlett LLP with a team of Maripat Alpuche, Jonathan Goldstein, Matthew Rogers, Misan Ikomi and Scott Naturman; and by Osler, Hoskin & Harcourt LLP with a team that included Terry Burgoyne, Kashif Zaman and Rosalind Hunter.

CIBC was represented by an internal team that included Charles Gerber, Robert Richardson, Sandra Iacobelli, Frank Vivacqua, Elizabeth Fanjoy, Darren MacLennan, Dan Donnelly and Mark McCans and by McCarthy Tétrault LLP with a team that included Gary Girvan, David Woollcombe, Matthew Kelleher, Danny Saposnik, Rob Hansen, Heidi Gordon, Matthew Peters, Matthew Cumming, Tyler McAuley, Gabrielle Richards, Brian Pel, Oliver Borgers, Dean Masse and Ian Bies.

Lawyer(s)

Craig Mitchell David E. Woollcombe Kashif Zaman Dean C. Masse Brian M. Pukier Jeffrey Brown Matthew Cumming Alan Kenigsberg Elizabeth L.W. Fanjoy Frank Vivacqua Justine M. Whitehead Rita DiLuca Oliver J. Borgers Ian Bies Terrence R. Burgoyne Garth (Gary) M. Girvan Robert O. Hansen Mark McCans Stephanie Rich Deborah R. Greenberg Matthew S. Kelleher Rosalind Hunter Mark Hounsell Matthew D. Peters Daniel R. Donnelly Sandra Iacobelli Faeron K. Trehearne Leslie A. Johnson Brian C. Pel Darren J. MacLennan David B. Elder Robert J. Richardson