International Business Machines Corporation, or IBM, completed a public offering in Canada of $2.75 billion aggregate principal amount of Canadian-dollar-denominated senior notes on August 17, 2026. The transaction marked the company’s return to the Canadian bond market for the first time since 2012. 

The dual-tranche offering comprised $1.75 billion of 4.100 percent senior notes due August 15, 2030, and $1 billion of 4.750 percent senior notes due August 15, 2034. The notes are unsecured and unsubordinated obligations of IBM and rank equally with its other unsecured and unsubordinated debt. The two tranches were priced at 99.993 percent and 99.711 percent of principal, respectively. Estimated aggregate proceeds were approximately $2.736 billion before expenses, with the proceeds designated for general corporate purposes. 

The underwriting agreement was dated August 10, 2026. The dealer syndicate was represented by CIBC World Markets Inc., RBC Dominion Securities Inc., Scotia Capital Inc. and TD Securities Inc., which acted as joint bookrunning managers. 

Osler, Hoskin & Harcourt LLP advised IBM as Canadian counsel. McCarthy Tétrault LLP acted as Canadian counsel to the underwriters, while Davis Polk & Wardwell LLP advised the underwriters on United States capital markets and tax matters. The transaction closed on August 17, 2026.