IBM Returns to Canadian Bond Market with $2.75B Issuance

IBM has made its first Canadian bond market issuance in 14 years, raising CAD 2.75 billion (approximately USD 1.97 billion) to support general corporate purposes.

The offering marked a significant milestone for IBM, which joins other U.S. tech giants like Amazon and Alphabet in entering the Canadian bond market to raise funds.

The longer-dated 8-year tranche of IBM's offering was priced at a spread of 120 basis points over the benchmark rate, slightly tighter than initially discussed, indicating robust investor demand.