CIBC is planning to issue additional notes backed by credit-card receivables from its CARDS II Trust, according to presale reports from Fitch Ratings, DBRS and Moody’s Investors Service.   

The size of the 2017-1 series has yet to be determined, but the notes will be divided into two tranches: Class A, tranche of U.S.-dollar denominated notes and a Class B tranche of Canadian dollar-denominated bonds. Previous deals also have had such split tranches and exceeded US$1 billion in value.

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