International Business Machines (IBM) has released an update.
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On January 29, 2024, IBM International Capital Pte. Ltd. (IIC) and its parent company IBM entered an underwriting agreement with several financial institutions for a public offering of various series of IIC’s notes, totaling $5 billion in aggregate principal, with maturities ranging from 2026 to 2054 and interest rates from 4.600% to 5.300%. These notes are guaranteed by IBM. On February 2, 2024, IIC and IBM established an indenture with The Bank of New York Mellon, allowing IBM to substitute for IIC as the obligor on the debt securities. The offering is expected to close on February 5, 2024, with the notes and guarantee issued under the terms of the indenture, which includes certain covenants and conditions.
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For a comprehensive understanding of the announcement, you can read the full document here.