CARDS II Trust completes C$1.152 billion notes offerings
Date Closed
May 21, 2010
Lead Office
Toronto
Value
1.15 Billion CAD
On May 21, 2010, CARDS II Trust completed two issuances of credit card receivables backed notes totalling C$1.152 billion. These were the eleventh and twelfth public offerings for CARDS II Trust. CARDS II Trust is a special purpose securitization vehicle that issues credit card receivables backed notes to the public to finance the purchase of credit card receivables originated by CIBC.
The offering was made through a syndicate of underwriters led by CIBC World Markets Inc., and included BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., Scotia Capital Inc., TD Securities Inc., National Bank Financial Inc., Brookfield Financial Corp., HSBC Securities (Canada) Inc. and Merrill Lynch Canada Inc.
McCarthy Tétrault LLP represented CIBC and CARDS II Trust, with a team led by Marc MacMullin.
