IBM Credit LLC $2 Billion Notes Offering

Davis Polk advised the underwriters in connection with a public offering by IBM Credit LLC of $450 million principal amount of its floating-rate notes due 2021, $800 million principal amount of its 2.650% notes due 2021 and $750 million principal amount of its 3.000% notes due 2023.

BNP PARIBAS, J.P. Morgan, Santander and US Bancorp acted as Joint Bookrunning Managers.

IBM Credit is an indirect, wholly owned subsidiary of IBM that provides financing to end-user clients for their purchase of IBM products and services and original equipment manufacturers’ IT products and services. IBM Credit also provides loans to IBM to finance the acquisition of IT assets used in client services contracts.

The Davis Polk team included partner John B. Meade (Picture) and associates Andrew J. Terjesen and Jamie Kurtz. Partner Michael Mollerus and counsel Ethan R. Goldman provided tax advice.

 

 

Involved fees earner: John Meade – Davis Polk & Wardwell; Andrew Terjesen – Davis Polk & Wardwell; Jamie Kurtz – Davis Polk & Wardwell; Michael Mollerus – Davis Polk & Wardwell; Ethan Goldman – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: BNP Paribas; JP Morgan; Banco Santander Sa; US Bancorp;

 

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Author: Ambrogio Visconti