CIBC adds to Canada’s TLAC run in euros

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By Tyler Davies
29 Apr 2019

Canadian Imperial Bank of Commerce (CIBC) opened books on its first bail-inable senior bond in euros on Monday, with four out of Canada’s big six banks having targeted the currency at the end of April.

CIBC hired its own bank alongside HSBC, Natixis, NatWest Markets and UBSas bookrunners for a new five year senior deal and began the pricing in the 60bp area over mid-swaps.

By 10am in London, the leads had collected €1.25bn of orders in the ...

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