Rare CIBC racks up Swiss covered bond record

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Rare CIBC racks up Swiss covered bond record

The biggest foreign Swiss franc covered bond in well over four years emerged on Tuesday when Canadian Imperial Bank of Commerce issued a Sfr500m seven year. The deal, which grew from an original minimum of Sfr300m to rank as the largest from a non-Swiss name since March 2006, was priced at 10bp over mid swaps.

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