CIBC pays no new issue concession

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incorporated in England and Wales (company number 15236213),

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CIBC pays no new issue concession

Canadian Imperial Bank of Commerce opened books for the third Canadian benchmark issued in euros this year. The transaction priced tighter than its peers with no new issue premium, though it was still comfortably oversubscribed. The strong result suggests potential for spread narrowing between eurozone and non-eurozone covered bonds.

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