What's New

Clearway Energy Group has successfully completed a US$1.5 billion financing for the construction of Swan Energy Center, a 650 MW solar facility located in Northwestern Bates County, Missouri. Developed to provide reliable, carbon-free energy and support regional load growth, the project is expected to generate enough electricity annually to serve approximately 200,000 homes. CIBC Capital Markets is pleased to have acted as Coordinating Lead Arranger, Administrative Agent, Sole LC Issuing Bank and Hedge Coordinator. As a leader in North American project finance and renewable energy financing, CIBC is pleased to help advance transformative energy infrastructure that supports both the clean energy transition and local economic development.

Altia Energy has successfully completed its acquisition of a 219 MW renewable generation portfolio from Isagen in Colombia. The acquisition doubles Altia Energy's installed capacity and diversifies its generation mix by adding 119 MW of hydroelectric capacity and 100 MW of solar capacity, strengthening its presence in Colombia's power sector. CIBC Capital Markets is pleased to have acted as buy-side M&A advisor to Altia Energy and supported the company with the acquisition financing.

Portakabin Limited has successfully completed a £1,865 million senior secured infrastructure-style refinancing to repay existing indebtedness, diversify funding sources through a combination of private placement investors and relationship banks, and support the Company's long-term growth and investment strategy. Portakabin is a leading lessor of premium modular building solutions, holding the number one market position in the UK and Ireland and a top-three position in Western Europe, serving critical end markets including education, healthcare, public infrastructure and commercial and industrial sectors. CIBC Capital Markets is pleased to have acted as Arranger and Hedge Counterparty

Earlier this month, CIBC Capital Markets’ Dominik Kania, CFA shared a lender’s perspective at a “Credit Fund NAV, ABL and Securitisation” panel at NAVigate 2026, an annual conference hosted by Haynes Boone and Walkers in London. The discussion touched on bank vs. non-bank capital solutions, growing role of the capital markets, continued growth of NAV as a later-stage liquidity tool, and the panel’s predictions for 2030. Joined by Colin Stewart of Arcmont Asset Management, Naoki Ohta of Velocity Capital Advisors, Andrew Traynor and Julia Keppe of Walkers, the panel explored both the challenges and the opportunities in what is this fast-evolving financing market.

CIBC Capital Markets' Jeff Appleby will join other panelists and industry professionals at SenbriGe 2026 in Toronto, to share insights on how demographic shifts, investor activity, and evolving financing conditions and care models are expected to shape the seniors living sector over the next 15 years.

energyRe has successfully completed a US$815 million construction-to-term financing for utility-scale solar projects. This financing package is comprised of five projects based in South Carolina – a collection of utility-scale solar projects totaling approximately 360 megawatts of new generating capacity across the Palmetto State. The financing is a giant step toward energyRe's goal of investing $2 billion in South Carolina by 2030. CIBC Capital Markets is pleased to have acted as one of the Coordinating Lead Arrangers. We are proud to have supported energyRe as it advances one of the most significant utility-scale solar portfolios in South Carolina, expanding critical energy infrastructure and helping drive the transition to a more reliable and sustainable power system.

CIBC’s Stefan Vatchev and Kalyani Panse participated in Inspiratia’s Investing in the Energy Transition 2026 conference in Milan, where they joined Europe’s leading investors, financiers, and policymakers to explore the financing trends shaping Italy’s low-carbon future. Discussions focused on the growing role of renewable energy, battery storage, and hybrid assets, while also examining how evolving market dynamics, regulation, and infrastructure challenges are influencing investment decisions in Italy.

Congratulations to Axium Infrastructure ("Axium") and Upper Peninsula Power Company ("UPPCO") on the acquisition of Xcel Energy’s regulated electric transmission and distribution utilities in Michigan (the "Transaction"). The Transaction will result in UPPCO adding 9,000 electric distribution customers, 470 miles of distribution lines and 110 miles of transmission lines, all immediately adjacent to UPPCO’s existing service territory in Michigan’s Upper Peninsula. CIBC is acting as exclusive financial advisor to Axium and also as Sole Placement Agent for Senior Notes issuances and Sole Lead Arranger, Sole Bookrunner, and Administrative Agent for Credit Facilities supporting the Transaction.

It was a great week at Sibos 2026 in Miami. Thank you to our clients and partners for your time and continued trust as we navigate how technology, collaboration and trusted infrastructure can deliver better outcomes across the financial ecosystem. This year’s conference highlighted a shift from exploring emerging technologies to putting them into practice, with AI, cross-border payments, and digital assets all moving toward more operational, scalable use cases. While at Sibos, CIBC was also recognized as the third-strongest bank in North America and the ninth-strongest bank in the world in the TAB Global 1000 World's Largest and Strongest Banks by Balance Sheet Strength (2026 Rankings). We remain focused on helping our partners navigate this increasingly digital, real-time, and interconnected markets. We look forward to building on this momentum and seeing everyone again at #Sibos2027

Congratulations to ATCO Ltd. on announcing a merger of equals between Emera Inc. and Canadian Utilities Limited and a concurrent spin-off of ATCO Ltd., creating a Canadian utility and energy infrastructure powerhouse, with a pro forma enterprise value of approximately $72 billion. This merger will help power Canada's growth ambitions, while continuing to invest in and grow its operations across its jurisdictions, including in the high growth markets of Alberta and Florida. The increased scale will position the company to support a range of capital-intensive priorities, electrification projects, major natural gas and electric transmission investments, large load customers, export infrastructure and other large-scale energy infrastructure projects. CIBC Capital Markets is pleased to have acted as Financial Advisor to the Special Committee of the Board Of Directors of ATCO Ltd.

Wittington Investments, Limited (“Wittington”) and Fairfax Financial have entered into a definitive agreement with The Boots Group to acquire Boots’ retail operations in the UK and Ireland, Boots Opticians, No7 Beauty Company and its Thailand and franchised businesses (collectively “Boots”), which are majority owned by Sycamore Partners, in partnership with Stefano Pessina and his family, for a total purchase consideration of US$8.9 billion. ​ CIBC Capital Markets is pleased to have acted as Lead Financial Advisor to Wittington and Joint Lead Left Arranger and Bookrunner on the committed financing.​

Congratulations to National Gas for the refinancing of their Revolving Credit Facility and GasT MidCo Limited's Debt Service Reserve Liquidity Facility. This refinancing supports National Gas' continued investment in Britain's gas network, providing secure energy to power the country, achieve Net Zero and maintain the UK's industrial competitiveness. CIBC Capital Markets is pleased to have acted as Mandated Lead Arranger on this transaction.

Last week, CIBC Capital Markets’ Dominik Kania shared key insights at the A&O Shearman Funds & Asset Management event, discussing the rapidly evolving fund finance needs of alternative asset managers amid a slower exit environment and renewed fundraising activity. Joined by Kate Baker of HSBC Asset Management, Bart van Dijk of ILPA, and Lukas Zeman of Campbell Lutyens, the panel explored the growing demand for innovative financing solutions, including hybrid, NAV, and CFO financings. They also discussed trends in GP-led continuation funds, the evolving roles of bank and non-bank lenders, and current market conditions. Hosted by Jan Sysel and Emma Danforth of A&O Shearman, the session highlighted both the opportunities and challenges facing the industry from the perspectives of lenders, GPs, advisors, and law firms. Thank you to everyone who attended and contributed to an engaging and insightful discussion.

Congratulations to Universities Superannuation Scheme for completing the acquisition of VTG Rail UK. With a fleet of ~4,500 rail freight wagons, VTG Rail UK is a leading freight lessor in the UK. CIBC is delighted to have underwritten USS' acquisition financing. Under USS’ ownership, VTG Rail UK will continue investing in growing its fleet and building on its strong customer base, while maintaining its focus on operational excellence, innovation and high-quality customer service.

Against a backdrop of shifting geopolitics, evolving trade dynamics, economic uncertainty, and growing national security considerations, we hosted clients and leaders from business, government, economics, and defence at an Executive Breakfast Meeting held at CIBC Square. The discussions explored how these forces are reshaping the operating environment for Canadian organizations. Thank you to all attendees and to our speakers, Major General (Ret.) Tammy Harris, Senator Leo Housakos, Benjamin Tal and the Hon. Lisa, who shared valuable insights on navigating an increasingly complex global landscape, building resilience amid supply chain and energy security challenges, and positioning businesses for long-term success in a rapidly changing world.

As we continue building a world-class team that will drive industry leadership and strong client outcomes in the rapidly evolving U.S. Power and Renewables sector, we are pleased to welcome Ricardo Pereira. Ricardo joins us as Managing Director and Head of US Project Finance Power and Renewables. Ricardo has extensive experience structuring and executing financings across the capital stack of power and renewables projects, helping us strengthen relationships with sponsors and investors across the market. Backed by deep industry experience and a strong leadership record, Ricardo and the team are well positioned to advance our power and renewables strategy, deepen client engagement, and strengthen CIBC Capital Markets’ position as a leader in this dynamic and strategically important sector.

Congratulations to ArcLight Capital Partners, LLC (“ArcLight”) and Olympus Power ("Olympus") on entering into a definitive agreement to sell a 100% interest in the 136 MW Bay Shore plant to Gate City Power for an undisclosed amount. ArcLight is a leading infrastructure investor which has owned and operated ~70 GW of power and 48,000 miles of transmission infrastructure. Olympus is a U.S. independent power producer which owns and manages ~5 GW of power plants. Gate City Power, and its sponsor Ara Partners, invest in, own and operate North American power generation assets. CIBC Capital Markets is pleased to have acted as Exclusive Financial Advisor to ArcLight and Olympus.

Congratulations to the CIBC Capital Markets Wealth Solutions Group on being recognized as Best Distributor and Best Performance in Canada at the SRP Americas Awards 2026. This recognition highlights the team’s outstanding contribution to the structured products and index annuity markets.

Congratulations to Slate Grocery REIT on entering into a definitive agreement to be acquired by Brixmor Property Group and Everview Partners for US$13.00 per unit in cash, representing a total enterprise value of approximately US$2.3 billion. This transaction is the culmination of the strategic review process previously announced by the REIT on May 22, 2026. CIBC Capital Markets is pleased to have acted as Financial Advisor to the Special Committee of Slate Grocery REIT.

Last week, CIBC Capital Markets’ Wayne Lee attended the 100 Women in Finance event in Luxembourg for a timely discussion on the impact of rising sovereign debt and persistent budget deficits on global capital markets amidst an evolving macroeconomic environment. The conversation explored what these trends could mean for sovereign credit ratings, foreign exchange markets and government bond yields, and the fiscal outlook for major economies around the world. CIBC was proud to sponsor the event and support 100 Women in Finance’s mission to strengthen the global finance industry by empowering women at every stage of their careers.

Congratulations to Enbridge Inc. on the successful closing of a $3 billion Common Equity Offering. Net proceeds from the Offering will be used to partially fund announced acquisitions and to create financial flexibility to fund Enbridge’s potential future growth opportunities. This transaction marks the largest Bought Deal Treasury Offering in 2026. CIBC Capital Markets is proud to have acted as Joint Lead Bookrunner.

The Private Placements market continues to evolve. Last week, the CIBC Capital Markets Debt Capital Markets team were at PPIF Europe, where industry leaders discussed issuer diversity, cross-border capital flows, infrastructure opportunities and financing solutions available to issuers, among others.

Congratulations to Brookfield on entering into an agreement, through its flagship private equity strategy, to acquire 100% of Reliance Worldwide Corporation (“Reliance”) (ASX: RWC), a global manufacturer of plumbing and heating solutions, for US$1.65 billion. Reliance is headquartered in the US, with operations across the Americas, Europe and the Middle East (EMEA), and Asia Pacific. The Reliance Board has unanimously recommended the all-cash proposal of US$3.38 per share to shareholders, who will vote on the agreement. The proposal reflects an enterprise value for Reliance of approximately US$2.9 billion. CIBC Capital Markets is pleased to have acted as an Initial Underwriter and Joint Lead Arranger on this underwritten debt financing package including a US$300 million ABL Facility and US$1.35 billion Term Loan B. This is CIBC’s inaugural role as an initial underwriter for a Brookfield US leveraged buyout transaction (outside of EIT), underscoring the firm’s tremendous momentum in the Leveraged Finance market.

Congratulations to The Baldwin Group, Inc. (NASDAQ: BWIN) (“Baldwin” or the “Company”) on entering into a definitive agreement under which an entity to be formed by DFO Management (“DFO” or “Dell Family Office”) and Sequence Holdings (“Sequence”) (“Parent”) will acquire a majority interest in the Company in an all-cash transaction valued at approximately US$7.7 billion. CIBC Capital Markets is pleased to have acted as an Initial Underwriter and Joint Lead Arranger/Joint Bookrunner on the $3.665 billion underwritten debt financing package, comprised of a US$500 million Revolving Credit Facility, US$415 million Delayed-Draw Term Loan, and $2,750 million Term Loan B.

Ready to kick-start your future in capital markets? CIBC Capital Markets offers two opportunities for first- and second-year undergraduate students from groups traditionally under-represented in financial services: Capital Markets Student Mentorship Program: A mentorship, networking and professional development for select first- and second-year students Global Investment Banking, Summer 2027 Advancement Program: A two-year career development experience for eligible second-year students. Build your skills, connect with industry leaders and grow your network, all while exploring where a career at CIBC could take you. Take the next step toward a career in capital markets. Learn more and apply.

CIBC Capital Markets’ Mark Tverskoy, Gabrielle Garcia, Holden Keating, and Nil Mistry will be among the panelists and industry professionals at ABS East 2026 in Miami, Florida, sharing insights on collaterized loan obligations, mortgages, and the evolving credit markets in the structured finance industry.

As we continue to expand our U.S. FIG Debt Capital Markets platform, we are pleased to welcome Brendin Cave as Managing Director and Head, U.S. FIG Debt Capital Markets. With nearly two decades of experience in FIG Debt Capital Markets, Brendin will play a key role in deepening integration across CIBC’s financing, advisory, and capital markets capabilities. His leadership will further enhance the strategic advice and tailored solutions we deliver to clients, while strengthening our position across Global Financial Institutions. Welcome to the team, Brendin!

Last week, CIBC Capital Markets was proud to host a client reception during Quantum Week, bringing together clients, industry leaders, and innovators to connect around the future of quantum computing and engineering. The evening created an opportunity to exchange perspectives on the pace of innovation, emerging applications, and the importance of collaboration in translating breakthrough technologies into real-world impact.

Congratulations to Granite Shore Power LLC, a portfolio company of Atlas Holdings LLC, for entering into a definitive agreement to sell an 80.1% ownership interest in a 502 MW portfolio of six operational conventional power facilities to Gate City Power Holdings LLC for an undisclosed amount. The portfolio comprises a diversified fleet of generation assets anchored by the dual-fuel Newington Station and five remote-start peaking units across New Hampshire. The transaction further underscores CIBC’s market leading position in U.S. Power M&A. CIBC Capital Markets is proud to have acted as Exclusive Financial Advisor to Atlas Holdings.

Nuclear momentum is evolving globally, but the focus is shifting from ambition to execution. Against the backdrop of the World Nuclear Symposium in London, CIBC Capital Markets' Gayatri Desai and Richard Ma, in collaboration with Deloitte, convened senior leaders from across the UK and Canadian nuclear ecosystems for a roundtable discussion on the policy, financing, regulatory and delivery conditions required to accelerate and sustain the next generation of nuclear development.