CIBC Completes Debenture Offering

On January 20, 2003, Canadian Imperial Bank of Commerce completed the offering of $250 million 4.75 per cent debentures due January 21, 2013, subordinated indebtedness, in all Canadian jurisdictions pursuant to its existing shelf prospectus. The dealer syndicate was led by CIBC World Markets Inc., and included RBC Dominion Securities Inc., BMO Nesbitt Burns Inc., Scotia Capital Inc., TD Securities Inc., National Bank Financial Inc., Merrill Lynch Canada Inc. and Trilon Securities Corporation.

Ernest McNee and Shannon O’Hearn of Blake, Cassels & Graydon LLP worked with in-house counsel Michelle Caturay, CIBC, on behalf of the issuer. Philip Henderson and Greg Hogan (corporate/securities) of Stikeman Elliott LLP acted for the dealer syndicate.