CIBC intends to redeem all $750 million of its 4.25% Debentures due June 1, 2014, the bank said Wednesday.
In accordance with their terms, the debentures will be redeemed at 100% of their principal amount on June 1, 2009. The interest accrued on the debentures to the redemption date will be paid through CIBC Mellon Trust Co.
The redemption will be financed out of the general corporate funds of CIBC, the bank said.
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