IBM has raised $1 billion through a sale of new debt, The Wall Street Journal reports. The bonds, which carry a coupon rate of 1.25%, are due to mature on May 12, 2014.
The proceeds will be used for repayment of commercial paper, outstanding debt securities and other general corporate purposes. Citigroup, Deutsche Bank Securities, JP Morgan and Wells Fargo were the joint book-runners on the deal.
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