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.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
