By Andrea Heisinger
Omaha, Jan. 24 - IBM International Group Capital LLC priced $3.5 billion 18-month floating-rate notes at par on Thursday to yield three-month Libor plus 34 basis points, an informed source said.
The non-callable notes priced slightly tighter than price talk, which was Libor plus 35 bps.
Bookrunners were Deutsche Bank Securities Inc., J.P. Morgan Securities Inc., Lehman Brothers Inc. and Morgan Stanley & Co. Inc.
Proceeds will be used for general corporate purposes, which may include repayment of loans extended to its parent company, including loans made by an affiliate of the underwriter.
The computer company is based in Armonk, N.Y.
| Issuer: | IBM International Group Capital LLC
|
| Issue: | Floating-rate notes
|
| Amount: | $3.5 billion
|
| Maturity: | 18 months
|
| Bookrunners: | Deutsche Bank Securities Inc., J.P. Morgan Securities Inc., Lehman Brothers Inc., Morgan Stanley & Co. Inc.
|
| Coupon: | Three-month Libor plus 34 bps
|
| Price: | Par
|
| Yield: | Three-month Libor plus 34 bps
|
| Trade date: | Jan. 24
|
| Settlement date: | Jan. 29
|
| Price talk: | Libor plus 35 bps
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
