IBM talks two-year floaters, 10-year notes for Monday's session

By Andrea Heisinger

New York, July 29 - International Business Machines Corp. is planning a sale of notes (Aa3/AA-/A+) in two tranches for Monday's session, according to a market source and a 424B3 filing with the Securities and Exchange Commission.

The sale is expected to include a two-year floating-rate note with initial talk in the Libor plus 5 basis points area and a 10-year note with initial guidance in the mid to high 80 bps area over Treasuries.

Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are the bookrunners.

Proceeds will be used for general corporate purposes.

IBM last tapped the U.S. bond market with a $2.25 billion offering in two tranches on May 2.

The information technology and computer company is based in Armonk, N.Y.

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