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CIBC Global Bond ex-Canada to trade on TSX

2021-09-14 20:41 ET - New Listing

The Toronto Stock Exchange reports that CIBC Global Bond ex-Canada Index ETF will be listed at 5:01 p.m. on Sept. 15, 2021, for trading at the open on Sept. 16, 2021. According to the TSX, there will be 600,000 common units of the exchange-traded fund (ETF) issued and outstanding, with no securities reserved for issuance. The units will trade under the symbol CGBI, in Canadian dollars and under Cusip No. 12548U 10 7.

The TSX reports that the ETF seeks to replicate, to the extent reasonably possible and before fees and expenses, the performance of a global aggregate bond index that measures the investment return of the global investment grade bond market, excluding Canada. Currently, the ETF seeks to track the Morningstar Global ex-Canada Core Bond Hedged CAD Index (or any successor thereto).

According to the TSX, the ETF will pay cash distributions on its units, if any, on a monthly basis. The ETF's manager is CIBC Asset Management Inc., its transfer agent and registrar is TSX Trust Company at its principal office in Toronto, and its fiscal year-end is Dec. 31. As stated in its prospectus dated March 24, 2021, the ETF will issue 600,000 units at $20 per unit in its initial public offering. It expects to close the offering before the open on Sept. 16, 2021.

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