International Business Machines Corp. sold $1 billion of 10-year bonds at 1.875 percent, the lowest coupon on record for dollar-denominated debt of that maturity.
The world's largest computer-services provider obtained a relative yield of 65 basis points more than similar-maturity Treasuries, according to data compiled by Bloomberg. The coupon beat the previous 2 percent record held by 3M Co.'s 10-year notes sold on June 21. A basis point is 0.01 percentage point.
IBM also shares the record low with Sysco Corp. for three-year debt with its 0.55 percent bonds due February 2015.
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