/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED
STATES/
TORONTO, May 25, 2017 /CNW/ - CIBC (TSX: CM)
(NYSE: CM) today announced that as a result of strong investor
demand for its previously announced domestic public offering of
non-cumulative Rate Reset Class A Preferred Shares, Series 45, the
size of the offering has been increased to 32 million shares. The
gross proceeds of the offering will now be $800 million. The offering will be underwritten
by a syndicate led by CIBC World Markets Inc. The expected closing
date is June 2, 2017.
The net proceeds from this transaction will be used for general
purposes of CIBC.
The securities being offered have not been and will not be
registered under the U.S. Securities Act of 1933, as
amended, and may not be offered or sold in the United States absent registration or an
applicable exemption from the registration requirements. This
press release shall not constitute an offer to sell or an
invitation to purchase or subscribe for any securities in
the United States or in any other
jurisdiction where such offer is unlawful.
About CIBC
CIBC is a leading Canadian-based global financial institution
with 11 million personal banking and business clients. Through our
three major business units – Retail and Business Banking, Wealth
Management and Capital Markets – CIBC offers a full range of
products and services through its comprehensive electronic banking
network, branches and offices across Canada with offices in the United States and around the world.
Ongoing news releases and more information about CIBC can be found
at www.cibc.com/ca/media-centre/ or by following on
Twitter @CIBC, Facebook (www.facebook.com/CIBC) and Instagram
@CIBCNow.
SOURCE CIBC - Investor Relations