By Cristal Cody
Tupelo, Miss., Nov. 27 – IBM Credit LLC priced a $2 billion three-part offering of senior notes (A1/A/A) on Tuesday, according to a market source.
The company sold $750 million of two-year floating-rate notes at Libor plus 47 basis points and $750 million of 3.45% two-year fixed-rate notes with a spread of Treasuries plus 65 bps.
A $500 million tranche of 3.6% three-year notes priced at a 75 bps over Treasuries spread.
HSBC Securities (USA) Inc., RBC Capital Markets LLC, SMBC Nikko Securities America Inc. and Wells Fargo Securities LLC were the bookrunners.
Proceeds will be used for general corporate purposes.
The company is a subsidiary of International Business Machines Corp., an information technology and computer company based in Armonk, N.Y.
| Issuer: | IBM Credit LLC
|
| Amount: | $2 billion
|
| Description: | Notes
|
| Bookrunners: | HSBC Securities (USA) Inc., RBC Capital Markets LLC, SMBC Nikko Securities America Inc. and Wells Fargo Securities LLC
|
| Trade date: | Nov. 27
|
| Ratings: | Moody’s: A1
|
| S&P: A
|
| Fitch: A
|
| Distribution: | SEC registered
|
|
|
| Two-year floaters
|
| Amount: | $750 million
|
| Maturity: | Nov. 30, 2020
|
| Coupon: | Libor plus 47 bps
|
|
|
| Two-year notes
|
| Amount: | $750 million
|
| Maturity: | Nov. 30, 2020
|
| Coupon: | 3.45%
|
| Spread: | Treasuries plus 65 bps
|
|
|
| Three-year notes
|
| Amount: | $500 million
|
| Maturity: | Nov. 30, 2021
|
| Coupon: | 3.6%
|
| Spread: | Treasuries plus 75 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.
