Canadian Imperial Bank Of Commerce (TSE:CM) has released an update.
The Canadian Imperial Bank of Commerce (CIBC) has announced plans to fully redeem its $1.5 billion worth of 2.95% Debentures on June 19, 2024. The redemption, taking place at the debentures’ principal amount plus accrued interest, marks an end to the interest accrual from the redemption date. This financial maneuver will be funded through CIBC’s general corporate funds.
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