IBM Taps Canada for $1.97 Billion Bond Sale After 14-Year Absence

IBM has ventured into the Canadian bond market for the first time in 14 years. The company sold C$2.75 billion ($1.97 billion) of corporate bonds on Monday, marking a significant move by the tech giant.

The sale is part of a trend where foreign firms are increasingly tapping into the Canadian bond market. This year has seen record issuance in the currency by non-Canadian companies, with Amazon.com and Alphabet Inc. leading the charge.

For IBM, this marks its first foray into the Maple notes market since 2012. The sale is a significant milestone for the company, which is building on a strong year of bond issuance.