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A&O Shearman advises on Canadian Imperial Bank of Commerce's USD2.25 billion notes offering

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Published Date

Sep 24, 2024

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A&O Shearman represented the underwriters led by CIBC World Markets Corp., BofA Securities, Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and TD Securities (USA) LLC in connection with Canadian Imperial Bank of Commerce’s (“CIBC”) public offering of USD500 million aggregate principal amount of Floating Rate Senior Notes due 2027, USD1bn aggregate principal amount of 4.508% Fixed-to-Floating Senior Notes due 2027 and USD750m 4.631% aggregate principal amount Fixed-to-Floating Senior Notes due 2030.

CIBC is a leading and well-diversified North American financial institution. Across its bank and business – Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets and Direct Financial Services – CIBC provides services to 14 million personal banking, business, public sector and institutional clients in Canada, the U.S. and around the world. The net proceeds from the sale of the notes will be used for general corporate purposes.

The A&O Shearman team was led by partner Justin Cooke (New York–capital markets) and associates Cristina Palma (New York–capital markets), David Birch (São Paulo–capital markets) and Nikolaos Chagias (New York–capital markets).

Other A&O Shearman lawyers involved in the transaction included partner Jennifer Morton (New York–financial services advisory and financial regulatory) and associate Taylor Pugliese.