IBM sets guidance for four-part note offering; pricing Thursday

By Aleesia Forni

Virginia Beach, Feb. 6 - International Business Machines Corp. is planning a four-part sale of notes (Aa3/AA-/A+) to price on Thursday, according to a syndicate source.

The offering is expected to include a two-year tranche of floating-rate notes, which is being guided in the Libor plus 10 basis points area.

A planned five-year tranche of notes is being guided in the mid-50 bps over Treasuries area and a five-year floating-rate tranche with initial guidance at the Libor equivalent.

Finally, a tranche of notes due 2024 is being guided at the Treasuries plus 105 bps area.

BNP Paribas Securities Corp., Goldman Sachs & Co., HSBC Securities (USA) LLC, J.P. Morgan Securities LLC, Mizuho Securities Inc. and RBC Capital Markets LLC are the joint bookrunners.

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

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