CIBC today announced it plans to redeem all of its outstanding 5.89% debentures due Feb. 26, 2013.
The redemption will occur on Feb. 26, 2008. In accordance with their terms, the debentures will be redeemed at 100% of their principal amount plus accrued interest to the redemption date. There is currently $89,419,000 principal amount of the debentures outstanding.
The redemption will be financed out of the general corporate funds of CIBC.
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