CIBC announces a public offering of $450 million in Limited Recourse Capital Notes Series 8, offering a fixed interest rate of 5.898% until 2031. The notes will be sold to institutional investors with interest paid semi-annually. In conjunction, Non-Cumulative 5-Year Fixed Rate Reset Class A Preferred Shares Series 63 will be issued. Proceeds will be used for general corporate purposes, including redeeming existing capital securities or repaying liabilities. Redemption of the LRCNs may occur every five years starting in 2030. The offering is expected to close on September 29, 2025, subject to customary conditions.

Read more at Nasdaq: CIBC Launches $450 Mln Offering Of 5.898% Limited Recourse Capital Notes Series 8