Canadian Imperial Bank of Commerce (CM, CM.TO) said it intends to redeem all C$500.0 million of its 4.50% Debentures due October 15, 2014.
In accordance with the terms, the Debentures will be redeemed at 100% of their principal amount on October 15, 2009.
The interest accrued on the Debentures to the redemption date will be paid through CIBC Mellon Trust Company. The redemption will be financed out of the general corporate funds of CIBC.
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