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IBM talks Thursday notes sale in three-, seven-year maturities
By Andrea Heisinger
New York, May 2 - International Business Machines Corp. is in the market Thursday selling notes (Aa3/AA-/A+) in two maturities, a market source said.
The offering includes tranches due 2016 and 2020.
The three-year notes have initial talk in the Treasuries plus high 20 basis points to 30 bps range, while the seven-year tranche has guidance in the low 70 bps area, the source said.
Bookrunners are BofA Merrill Lynch, BNP Paribas Securities Corp., RBS Securities Inc. and Wells Fargo Securities LLC.
Proceeds will be used for general corporate purposes.
IBM last tapped the U.S. bond market with a $2 billion offering in two tranches on Feb. 5.
The information technology and computer company is based in Armonk, N.Y.
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