CIBC Plans Benchmark Sale of Five-Year Notes as Soon as Today

Canadian Imperial Bank of Commerce plans to sell five-year notes as soon as today, according to a person familiar with the transaction.

The offering of senior bank notes will be benchmark in size, said the person, who declined to be identified because terms aren’t set. Benchmark typically means at least $500 million.

The sale will be managed by Barclays Capital, CIBC, Citigroup Inc. and JPMorgan Chase & Co., the person said.

To contact the reporter on this story: Sapna Maheshwari in New York at sapnam@bloomberg.net

To contact the editor responsible for this story: Pierre Paulden at ppaulden@bloomberg.net

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