IBM unit to price fixed-rate notes via five bookrunners

By William Gullotti

Buffalo, N.Y., Jan. 29 – IBM International Capital Pte., Ltd. intends to price fixed-rate notes, according to a 424B3 filing with the Securities and Exchange Commission.

Parent company International Business Machines Corp. will guarantee the SEC-registered notes.

The notes have a make-whole call and then a par call a number of months before the maturity date.

Citigroup Global Markets Singapore Pte., Ltd., Merrill Lynch (Singapore) Pte., Ltd., Goldman Sachs (Singapore) Pte., HSBC Ltd., Singapore Branch and J.P. Morgan Securities Asia Private Ltd. are the joint bookrunning managers.

Bank of New York Mellon will be the trustee.

IBM is using in-house counsel and Drew & Napier LLC. The underwriters are relying on Davis Polk & Wardwell LLP for legal opinions.

Proceeds will be used for IBM’s general corporate purposes, including those of its subsidiaries.

The information technology and computer company based in Armonk, N.Y. The issuing subsidiary was incorporated in Singapore on Nov. 17, 2023.

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