New Issue-CIBC sells $2 bln in covered bonds
Jan 20 (Reuters) - Canadian Imperial Bank of Commerce's (CM.TO) Toronto Branch on Thursday sold $2 billion of covered bonds in the 144a private placement market, said IFR, a Thomson Reuters service.
CIBC, HSBC, JP Morgan, and RBS were the joint bookrunning managers for the sale. BORROWER: CANADIAN IMPERIAL BANK OF COMMERCE TORONTO BRANCH AMT $2 BLN COUPON 2.75 PCT MATURITY 1/27/2016 TYPE BONDS ISS PRICE 99.958 FIRST PAY 7/27/2011 MOODY'S Aaa YIELD 2.759 PCT SETTLEMENT 1/27/2011 S&P TRIPLE-A SPREAD 71.8 BPS PAY FREQ SEMI-ANNUAL FITCH TRIPLE-A MORE THAN TREAS NON-CALLABLE N/A
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