Canadian Imperial Bank Of Commerce To Redeem $1 Bln In NVCC Debentures On July 21

(RTTNews) - Canadian Imperial Bank of Commerce (CM), Friday announced that it will redeem its entire US$1.0 billion issuance of 2.01 percent Non-Viability Contingent Capital debentures, originally maturing in 2030.

The redemption, scheduled for July 21, 2025, will occur at full principal value, plus accrued but unpaid interest up to but excluding that date.

Interest on the debentures will stop accruing after July 21. The redemption will be funded from CIBC's general corporate resources. Registered holders will receive formal notice in line with the prospectus supplement governing these debentures.

CM.TO is currently trading at 94.36 CAD, up 0.46 CAD or 0.49 percent on the Toronto Stock Exchange.