CIBC prices Kangaroo covered bond debut with upsize to A$750 million [UPDATED]
- Tuesday, 05 October 2010
Canadian Imperial Bank of Commerce (CIBC) (A+/Aa2) priced A$750 million (US$737.8 million) in its debut, three-year transaction in the Kangaroo covered bond market on October 7. The deal was placed at a margin of 48 basis points over semi-quarterly swap – slightly tighter than the region of 50 basis points over swap expected at launch a day earlier.
