Toronto-based Royal Nickel Corp. is considering an initial public offering of up to $100-million this fall. Scott Hand, former Inco Ltd. chief executive officer, is the chairman of the board. (Read more in )
CIBC announced plans to buy back $1.3-billion of sub debt due September, 2015. The 3.75 per cent bonds have what's known as a "five plus five" structure, meaning the coupon resets after five years. That reset date comes this September, and CIBC will buy back the debt just before that.
The Basel Committee on Banking Supervision said new capital requirement rules will be less stringent than expected. Certain assets, such as minority stakes in other financial firms, will now count as capital.