IBM Completes C$2.75B Maple Bond Offering
On August 17, 2026, International Business Machines Corp. (“IBM”) closed an offering in Canada of C$2.75 billion aggregate principal amount of Canadian-dollar denominated maple bonds. The dual-tranche offering consisted of C$1.75 billion of 4.100% senior notes due 2030 and C$1 billion of 4.750% senior notes due 2034. The senior notes will rank equally with all other unsecured and unsubordinated debt of IBM. The offering marks IBM’s successful return to the Canadian bond market for the first time in over 14 years.
IBM is headquartered in Armonk, New York and is listed on the New York Stock Exchange. It is a leading provider of global hybrid cloud and AI, and consulting expertise. IBM helps clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Thousands of governments and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM's hybrid cloud platform and Red Hat OpenShift to effect their digital transformations quickly, efficiently and securely. IBM's breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to its clients.
The underwriter syndicate was led by CIBC Capital Markets, RBC Capital Markets, Scotiabank and TD Securities, as joint bookrunning managers for the offering.
McCarthy Tétrault LLP advised the underwriters on the offering with a team led by Pavan Jawanda that included Suzie Cusson, Sheema Rezaei (Capital Markets), Jeremy Ho, Simon Douville and Tyler Warchola (Tax).
