CIBC renews ties to Reichmanns with loan

Article Abstract:

The Canadian Imperial Bank of Commerce (CIBC) and the Toronto Dominion Bank will each provide O and Y Properties Corp with a C$150-million loan to acquire First Capital Place, the tallest office building in Canada. CIBC will also add another C$60 milion-C$75 million in junior financing. The bank was the largest creditor of the Reichmann family's Olympia and York Development Ltd with around C$860 million worth of exposure when the property firm collapsed in the early 1990s.

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Banks search for edge from new rules

Article Abstract:

Canadian Finance Minister Paul Martin has proposed sweeping new rules changes for the financial services industry in Canada. The proposal includes the formalization of the merger review process and ownership limits that would expand competition for smaller banks.

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Banks big junk bond lenders

Article Abstract:

The Top 10 list of banks worldwide that lend junk debt to the cable and telecommunications industries includes three from Canada: Toronto-Dominion Bank, Bank of Nova Scotia and Canadian Imperial Bank of Commerce.

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