IBM Sells $1.5 Billion of Bonds as Company Yields Decline
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International Business Machines Corp. sold $1.5 billion of debt in its second U.S. dollar-denominated offering this year, as corporate bond yields reach record lows.
IBM priced $900 million of 0.75 percent, three-year notes at a relative yield of 45 basis points more than similar-maturity Treasuries, and $600 million of 1.875 percent, seven-year bonds at a 65 basis-points spread, according to data compiled by Bloomberg. A basis point is 0.01 percentage point.