IBM’s $1.8 Billion Notes Offering

Cravath represented International Business Machines Corporation, while Davis Polk advised the underwriters in the offering.

International Business Machines Corporation executed its public offering of $650 million aggregate principal amount of its 2.200% notes due 2027, $500 million aggregate principal amount of its 2.720% notes due 2032 and $650 million aggregate principal amount of its 3.430% notes due 2052. 

Barclays, BofA Securities, Citigroup, HSBC, Mizuho Securities, SMBC Nikko, ING, RBC Capital Markets, US Bancorp, Blaylock Van, LLC and Stern acted as underwriters for the offering.

International Business Machines Corporation (IBM) is an American multinational technology company headquartered in Armonk, New York, with operations in over 170 countries.

The Davis Polk team included partner John B. Meade (Picture), counsel Jennifer Ying Lan and associate Courtney Y. Sohn. Counsel Ethan R. Goldman and associate Dov Sussman provided tax advice. European counsel John Taylor provided European regulatory advice. 

The Cravath team included partners Stephen L. Burns and Michael E. Mariani, senior attorney Zachary R. Smith and associates Katherine R. Booth and Ryan S. Genkin on capital markets matters, and partner Arvind Ravichandran on tax matters. John Yu also worked on capital markets matters and Michael Pelle also worked on tax matters.

Involved fees earner: Katherine Booth – Cravath Swaine & Moore; Stephen Burns – Cravath Swaine & Moore; Ryan Genkin – Cravath Swaine & Moore; Michael Mariani – Cravath Swaine & Moore; Michael Pelle – Cravath Swaine & Moore; Arvind Ravichandran – Cravath Swaine & Moore; Zachary Smith – Cravath Swaine & Moore; Ethan Goldman – Davis Polk & Wardwell; John Meade – Davis Polk & Wardwell; Courtney Sohn – Davis Polk & Wardwell; Dov Sussman – Davis Polk & Wardwell; John Taylor – Davis Polk & Wardwell; Jennifer Ying Lan – Davis Polk & Wardwell;

Law Firms: Cravath Swaine & Moore; Davis Polk & Wardwell;

Clients: Bank of America Securities; Barclays Bank; Blaylock Van, LLC; Citigroup Inc.; HSBC; IBM; ING Bank; Mizuho Securities; RBC Capital Markets; Smbc Nikko Capital Markets Limited; Stern Brothers & Co.; US Bancorp;