Bond will help finance assets, businesses and projects that shape a more sustainable economy

TORONTO, Oct. 19, 2020 /CNW/ - CIBC (TSX: CM) (NYSE: CM) announced today a USD$500 million, five-year green bond to help finance new and existing green projects, assets, and businesses that mitigate the risks and effects of climate change, including: renewable energy, green buildings, clean transportation, natural resource conservation, biodiversity conservation, energy efficiency, and pollution prevention and control.

"As a leading renewables financer and advisor in North America, we are proud to help mobilize capital and develop market-based solutions to support investments that shape a more sustainable future," said Roman Dubczak, Managing Director and Head, Global Investment Banking, CIBC Capital Markets. "Our clients are increasingly investing in the sustainability of their operations, and our green bond issuance supports these efforts while meeting the growing demand for environmentally responsible investments."

This marks the bank's inaugural green bond issued under CIBC's Green Bond Framework. The Framework is in line with International Capital Market Association (ICMA) Green Bond Principles 2018 and has been reviewed by Sustainalytics, an independent provider and global leader in environmental, social and governance research, analysis and services to investors.

As the demand for environmentally responsible investments increases, CIBC is committed to being a leader in environmental stewardship and sustainable financing, supporting clients in growing the lower carbon economy, and taking action to address environmental and social issues:

• 2017: CIBC Asset Management becomes a signatory of the United Nations-supported Principles for Responsible Investment (PRI)
• 2018: Launches a greenhouse gas (GHG) emission reduction target to improve its operational footprint, as outlined in CIBC's annual Sustainability Report
• 2018: Announces the first Women in Leadership social bond framework in Canada
• 2019: Announces target of mobilizing $150 billion in environmental and sustainable finance activities by 2027
• 2019: Issues the climate-related disclosure report "Building a Sustainable Future," aligned with the Task Force on Climate-Related Financial Disclosures

"Our bank recognizes the positive role that financial institutions can play in supporting a greener future," said Peter Levitt, Executive Vice President and Treasurer, CIBC. "We are committed to enabling sustainable growth in our economy, and today's green bond issuance is another step in support of this objective."

This offering was made only by means of a prospectus supplement and an accompanying prospectus filed as part of an effective shelf registration statement filed with the U.S. Securities and Exchange Commission on Form F-10.

Copies of the prospectus supplement and the accompanying short form base prospectus relating to this offering may be obtained by calling BofA Securities, Inc. toll-free at (800) 294-1322; CIBC World Markets Corp. toll-free at (800) 282-0822; HSBC Securities (USA) Inc. toll-free at (866) 811-8049 or Wells Fargo Securities, LLC at 1-800-645-3751 (toll free).

This press release does not constitute an offer to sell or the solicitation of an offer to buy the green bonds or any other securities, nor shall there be any sale of the green bonds in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

A NOTE ABOUT FORWARD-LOOKING STATEMENTS: From time to time, we make written or oral forward-looking statements within the meaning of certain securities laws, including in this press release, in other filings with Canadian securities regulators or the U.S. Securities and Exchange Commission and in other communications. These statements include, but are not limited to, statements about our financial condition, priorities, targets, ongoing objectives, strategies and outlook. Forward-looking statements are subject to inherent risks and uncertainties that may be general or specific. A variety of factors, many of which are beyond our control, could cause actual results to differ materially from the expectations expressed in any of our forward-looking statements, including general business and economic conditions worldwide; amendments to, and interpretations of, risk-based capital guidelines; and changes in monetary and economic policy. We do not undertake to update any forward-looking statement except as required by law.

About CIBC

CIBC is a leading North American financial institution with 10 million personal banking, business, public sector and institutional clients. Across Personal and Small Business Banking, Commercial Banking and Wealth Management, and Capital Markets businesses, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world.

SOURCE CIBC