CIBC is also highly commended for its commitment to penetrating and growing its market share in a challenging economic environment. It underwrote four transactions worth $2.05 billion in 2001, including the Yell transaction, which was led by Merrill Lynch. Major transactions for CIBC in 2001 included the $274.8 million debt financing of Cie d’Affretement et de Trans; the EURO530 million debt financing for CVC Capital Partners’ acquisition of Lenzing AG; and the GBP1.9 billion LBO of Meridien Hotels.