Canadian Bank of Commerce ( (TSE:CM) ) just unveiled an announcement.
CIBC announced a domestic public offering of $1.25 billion in 4.15% NVCC Subordinated Debentures due in 2035. The debentures, which will be issued in Canada, aim to support general corporate purposes, including the potential redemption of existing capital securities and repayment of liabilities. This strategic financial move is expected to bolster CIBC’s capital structure and enhance its financial flexibility, potentially impacting its market positioning and stakeholder interests.
More about Canadian Bank of Commerce
CIBC is a leading North American financial institution serving 14 million clients across personal banking, business, public sector, and institutional sectors. The bank offers a comprehensive range of services through its digital banking network and physical locations across Canada, the United States, and globally, focusing on Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets.
YTD Price Performance: -8.25%
Average Trading Volume: 956,913
Technical Sentiment Signal: Sell
Current Market Cap: $53.45B
For detailed information about CM stock, go to TipRanks’ Stock Analysis page.