TORONTO, Jan. 31 /CNW/ - CIBC (CM: TSX; NYSE) today announced its intention to redeem all of its outstanding 4.55% Medium Term Notes (subordinated indebtedness) due March 28, 2016 (the "Notes"). In accordance with their terms, the Notes will be redeemed at 100% of their principal amount on March 28, 2011. The interest accrued on the Notes to the redemption date will be paid through BNY Trust Company of Canada in the usual manner. There is currently $1,080,000,000 principal amount of the Notes outstanding. The redemption will be financed out of the general corporate funds of CIBC.
For further information: Jason Patchett, CIBC Investor Relations, (416) 980-8691 or Mary Lou Frazer, CIBC Communications and Public Affairs, 416-980-4111.