Canadian Imperial Bank of Commerce to Redeem Limited Recourse Capital Notes

MT Newswires Live

08/28

Canadian Imperial Bank of Commerce (CM) said Thursday that it will redeem all 750 million Canadian dollars ($544.8 million) of its 4.375% limited recourse capital notes series 1.

The notes will be redeemed at full principal amount together with accrued and unpaid interest on Sept. 29, the company said.

The redemption will be financed out of the bank's general corporate funds, CIBC added.

Shares of the company were up 4.7% in recent premarket activity Thursday.

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