CIBC Kangaroo gets cheap funding in size

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CIBC Kangaroo gets cheap funding in size

Canadian Imperial Bank of Commerce (CIBC) launched and priced an A$700m five year deal, its second Kangaroo and 12th covered bond, last Friday. The 6.25% March 2016 came through joint leads CBA, HSBC and UBS and was priced in line with guidance at 74bp over the local swaps benchmark.

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