IBM plans senior notes in three dollar tranches, two euro tranches; talk emerges on dollar notes

By Rebecca Melvin and Cristal Cody

Concord, N.H., Feb. 2 – International Business Machines Corp. plans to price a three-part offering of dollar-denominated senior notes and two tranches on euro-denominated notes, according to a market source.

The dollar offering includes notes due Feb. 9, 2027 talked to yield in the Treasuries plus 85 basis points area, notes due Feb. 9, 2032 with a spread in the 115 bps area and notes due Feb. 9, 2052 with a spread in the 155 bps area.

Talk for the euro-denominated notes was not immediately available.

The notes have a make-whole call followed by a par call, according to 424B3 filings with the Securities and Exchange Commission.

Barclays, BofA Securities Inc., Citigroup Global Markets Inc., HSBC Securities (USA) Inc., Mizuho Securities USA LLC and SMBC Nikko Securities America Inc. are joint bookrunning managers.

Proceeds will be used for general corporate purposes.

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

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