IBM Credit’s Initial $3 Billion Registered Fixed and Floating Rate Notes Offering

Cravath represented IBM Credit in connection with its initial $3 billion registered fixed and floating rate notes offering.

IBM Credit LLC is a subsidiary of International Business Machines Corporation, a globally integrated innovation company, serving the needs of enterprises and institutions worldwide.The transaction closed on September 8, 2017.

Citigroup Global Markets, JP Morgan Securities, Merrill Lynch Pierce Fenner & Smith and Wells Fargo Securities acted as Underwriters.

The Cravath team included partners Stephen L. Burns (Picture) and Bill Whelan, senior attorney G. Douglas Johnson and associates Eric M. Wasserstrum, Andrew M. Wark and Zachary J. Savrick on securities matters, and associate Arvind Ravichandran on tax matters.

Davis Polk advised underwriters with a team including John B. Meade and associates Andrew J. Terjesen, Rahim Manji and Bria J.M. Cunningham. Partner Michael Mollerus and counsel Ethan R. Goldman provided tax advice.

 

Involved fees earner: Stephen L. Burns – Cravath Swaine & Moore; William Whelan – Cravath Swaine & Moore; Douglas Johnson – Cravath Swaine & Moore; Eric Wasserstrum – Cravath Swaine & Moore; Andrew Wark – Cravath Swaine & Moore; Zachary Savrick – Cravath Swaine & Moore; Arvind Ravichandran – Cravath Swaine & Moore; John Meade – Davis Polk & Wardwell; Andrew Terjesen – Davis Polk & Wardwell; Rahim Manji – Davis Polk & Wardwell; Bria J.M. Cunningham – Davis Polk & Wardwell; Michael Mollerus – Davis Polk & Wardwell; Ethan Goldman – Davis Polk & Wardwell;

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

Clients: Citigroup Global Markets Ltd; Merrill Lynch, Pierce, Fenner & Smith Incorporated; Wells Fargo; JP Morgan Securities; IBM Credit LLC;

 

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Author: Ambrogio Visconti