IBM subsidiary IIC issues $5.5B in notes across seven tranches, guaranteed by IBM

INTERNATIONAL BUSINESS MACHINES CORP

IBM International Capital Pte. Ltd. issued $5.5B aggregate principal of notes; fully guaranteed by IBM.
Tranches include 4.700% due 2026 ($600M), 4.600% due 2027 ($500M), 4.600% due 2029 ($500M), 4.750% due 2031 ($500M), 4.900% due 2034 ($1B), 5.250% due 2044 ($1B), and 5.300% due 2054 ($1.4B).
Underwriters: Merrill Lynch, Citigroup, Goldman Sachs, J.P. Morgan, and HSBC Singapore branch.
Closing expected Feb 5, 2024; indenture with Bank of New York Mellon as trustee.
IBM can at its option assume IIC's obligations under the notes without holder consent.

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