CIBC announces issue of $1.1 billion of Debentures

TORONTO, April 27 /CNW/ - CIBC (CM: TSX; NYSE) announced today it intends to issue $1,100,000,000 of 4.11% Debentures due 2020 (subordinated indebtedness). The Debentures will be issued in Canada and sold through a dealer syndicate led by CIBC World Markets Inc.

The Debentures are expected to be issued on April 30, 2010, and will bear interest at a fixed rate of 4.11% per annum (paid half-yearly) until April 30, 2015, and, if not redeemed by CIBC, at the three-month bankers' acceptance rate plus 1.90% per annum (paid quarterly) thereafter until maturity on April 30, 2020.

The Debentures offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or an invitation to purchase or subscribe for any securities in the United States or in any other jurisdiction where such offer is unlawful.

A NOTE ABOUT FORWARD-LOOKING STATEMENTS

This news release contains forward-looking statements. These forward-looking statements include, but are not limited to, statements about the offering. A forward-looking statement is subject to inherent risks and uncertainties that may be general or specific. A variety of factors, many of which are beyond CIBC's control, could cause actual results to differ materially from the expectations expressed in CIBC's forward-looking statements. Readers should not place undue reliance on CIBC's forward-looking statements. CIBC does not undertake to update any forward-looking statement that is contained in this news release except as required by law.

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For further information: Valentina Wong, CIBC Investor Relations, [phone]; or Jason Patchett, CIBC Investor Relations, [phone]; or Mary Lou Frazer, CIBC Communications and Public Affairs, [phone]