Strathmore Mulls Debt Swap Restructuring With CIBC

The Town of Strathmore is considering restructuring multiple debt facilities through interest rate swaps with CIBC, including fully unwinding an existing swap on Facility A and entering new fixed-rate swaps on Facilities A, B, and C. Administration will finalize swap pricing and refinancing rates with CIBC upon Council approval.

Scope & details

The full contract record, as filed.

Contract type

FINANCIAL_SERVICES

Contract term

64 months for Facility A; 122 months for Facility B; 136 months for Facility C; existing Facility K ~60 months remaining

Renewal

Proposed restructurings include a full unwind of the current swap on Facility A (notional CAD 866,666.67) and new swaps with tenors such as 5 years/78 months and 5 years/100 months. No explicit renewal or extension options are stated.

Document type

Agenda

Source document

Strathmore Agenda Special Council Meeting 2026-07-28

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Town of Strathmore?

CIBC was awarded this financial services contract by Town of Strathmore, as recorded on July 28, 2026.

What type of contract is this?

This is a Financial Services contract, documented as a agenda record.

Where was this contract approved?

This contract appears in Strathmore Agenda Special Council Meeting 2026-07-28 (Agenda), dated July 28, 2026 from Town of Strathmore. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does CIBC hold?

CIBC may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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What is Town of Strathmore currently buying?

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Strathmore Mulls Debt Swap Restructuring With CIBC

Scope & details

Related contracts

Frequently asked questions

Who was awarded the financial services contract by Town of Strathmore?

What type of contract is this?

Where was this contract approved?

What other contracts does CIBC hold?

What is Town of Strathmore currently buying?

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