Corporate Debt

International Business Machines Corp. is offering four- and eight-year Canadian dollar notes, its first such issuance since 2012, as foreign firms drive record Maple note volume.

The tech giant's four- and eight-year Maple notes come as foreign issuance in Canada hits a record high this year.

The tech giant's record offering, the largest by a foreign issuer in Japan, shows corporations locking in low-cost funding as rate differentials widen

The decline in adjusted EBITDA raises questions about the company's debt servicing capacity and adds complexity to the proposed KKR acquisition