The investment-grade debt consists of nine tranches of notes

Davis Polk advised the underwriters in connection with a public offering by International Business Machines Corporation of $1 billion aggregate principal amount of its 4.650% notes due 2028, $1 billion aggregate principal amount of its 4.800% notes due 2030, $850 million aggregate principal amount of its 5.000% notes due 2032, $900 million aggregate principal amount of its 5.200% notes due 2035 and $1 billion aggregate principal amount of its 5.700% notes due 2055.

Davis Polk also advised the underwriters in connection with a public offering by International Business Machines Corporation of €750 million aggregate principal amount of its 2.900% notes due 2030, €1.1 billion aggregate principal amount of its 3.150% notes due 2033, €900 million aggregate principal amount of its 3.450% notes due 2037 and €750 million aggregate principal amount of its 3.800% notes due 2045.

The Davis Polk capital markets team included partner John B. Meade, counsel Jennifer (Ying) Lan and associates Tomisin Ogunsanya and Shukra Sabnis. Partner Ethan R. Goldman and associate David J. Beer provided tax advice. European counsel John Taylor provided European regulatory advice. Members of the Davis Polk team are based in the New York and London offices.

 

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