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IBM Plans Benchmark Bond Issue
With corporate yields at record lows, Big Blue may sell 3-yrs at spread of 45 to 47 basis points; 7-years around 70 basis points.
International Business Machines Corp. is planning to sell its second U.S. dollar-denominated debt offering this year, as yields in the corporate bond market reach record lows.
IBM may sell three-year notes at a relative yield of about 45 to 47 basis points more than similar-maturity Treasuries, and seven-year bonds in the 70 basis points area, said a person familiar with the offering who declined to be identified because terms aren’t set. A basis point is 0.01 percentage point.
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