Summary by Moomoo AI
On January 29, 2024, IBM Corp reported the entry into an underwriting agreement through its finance subsidiary, IBM International Capital Pte. Ltd. (IIC), with several major financial institutions including Merrill Lynch, Citigroup, Goldman Sachs, J.P. Morgan, and HSBC for a public offering of various notes due between 2026 and 2054, totaling $4.5 billion. The notes, which range in interest rates from 4.600% to 5.300%, are fully and unconditionally guaranteed by IBM. The agreement was detailed in a Form 8-K filing with the SEC. Additionally, on February 2, 2024, IIC and IBM entered into an indenture with The Bank of New York Mellon as trustee, outlining the issuance and guarantee of the debt securities. The closing of the offering is expected on February 5, 2024, subject to standard closing conditions. The underwriting agreement and indenture were filed as exhibits to the Form 8-K, which also incorporates by reference into Registration Statement Nos. 333-276739 and 333-276739-01 on Form S-3, effective January 29, 2024.