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To: Black Jade;Tumbleweed_Connection;*GlobalCrossing;Ernest_at_the_Beach; JohnHuang2; terilyn...
Another CIBC post CIBC reveals Global Crossing exposure
26 posted on 03/02/2002 10:32:09 PM PST by Bayou City
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To: Bayou City
FROM THE LINK: Despite the hit in loan losses, CIBC has done extraordinarily well on GC given its initial investment of just $30-million (U.S.). Mr. McLeod said that during the past three years, the bank has "realized more than $2-billion (Canadian) in revenues" from its association with the company, excluding investment banking fees.

CIBC will also profit some $350 mill after closing out hedged futures contracts.

29 posted on 03/03/2002 4:34:07 AM PST by Liz
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