CIBC Completes US$2B Offering Of Covered Bonds

Pursuant to a €10 Billion Global Public Sector Covered Bond Programme, Canadian Imperial Bank of Commerce complet-ed an offering in the United States under Rule 144A and Regulation S international offering of an aggregate amount of US$2,000,000,000 series CB12 0.900 per cent covered bonds due September 19, 2014 (the “Covered Bonds”). The Covered Bonds trade on the London Stock Exchange and are irrevocably and unconditionally guaranteed as to timely payment of principal and interest by CIBC Covered Bond Guarantor Limited Partnership. CIBC World Markets Corp., HSBC Securities (USA) Inc., RBS Securities Inc., J.P. Morgan Securities Ltd., Barclays Capital Inc., BMO Capital Markets Corp., Citigroup Global Markets Inc., Desjardins Securities Inc., Deutsche Bank Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, National Bank Financial Inc., RBC Capital Markets, LLC, Scotia Capital (USA) Inc., TD Securities (USA) LLC, UBS Securities LLC and Wells Fargo Securities, LLC acted as co-managers for the issuance.

CIBC was advised by in-house counsel Frank Vivacqua, Assistant General Counsel, and assisted in Canada by McCarthy Tétrault LLP, with a team including Marc MacMullin, James Morand (tax), Candace Pallone, Tim Stewart, and Ryan Hornby; in the United Kingdom by Alexander Strong of McCarthy Tétrault; and in the United States by Allen & Overy LLP, with a team including Lawton Camp and Jonathan Lee.

The managers were advised in the United States by Mayer Brown LLP, with a team including Paul Jorissen and Mere-dith Tapper.


Marc J. MacMullin Ryan Hornby Timothy Stewart James G. Morand Candace M. Pallone


McCarthy Tétrault LLP Allen & Overy Mayer Brown LLP