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CIBC May Have C$211 Million Debt Writedown, Mihelic Says

Canadian Imperial Bank of Commerce, the country’s fifth-largest lender, may take a C$211 million ($202 million) debt writedown that would lower third-quarter profit, according to Cormark Securities Inc. analyst Darko Mihelic.

The writedown is equal to 55 cents a share, Mihelic said in a research report today.