TSX:CMBanks
Does CIBC’s Recent Wave of Callable Debt Issuance Reshape Its Funding Story for (TSX:CM)?
In the past two weeks, Canadian Imperial Bank of Commerce has announced and completed several fixed-income offerings, issuing multiple callable senior, subordinated, and junior notes with fixed coupons ranging from 4.2% to 5.45% and maturities extending from 2030 to 2046.
This burst of bond issuance highlights how CIBC is actively shaping its funding mix and capital structure through a blend of secured and unsecured, senior and subordinated eurobond and MTN instruments.
Next, we will...