IBM Seeks $500M from Canadian Bond Market Amid Software Sales Slump

IBM is returning to Canada's bond market after a 14-year absence. The tech giant is offering four- and eight-year notes, which are expected to price on Monday. This sale marks IBM's first foray into Canada's bond market since it raised C$500 million in 2012.

The company has been facing weak sales this year, particularly in its computer infrastructure and related software segments. Its shares have declined by 19% so far this year, making it the third-worst performer in the Dow Jones Industrial Average. IBM's focus on software has raised concerns about potential disruption from artificial intelligence.

This move comes amid a record-breaking year for foreign firms issuing bonds in Canada's market. Notable issuers include Amazon.com Inc and Alphabet Inc, which have helped reshape Canada's corporate-debt landscape.