We advised the underwriters on the offering

Davis Polk advised the underwriters in connection with a public offering by International Business Machines Corporation (IBM) of $500 million aggregate principal amount of its 4.0% notes due 2029, $500 million aggregate principal amount of its 4.3% notes due 2031, $500 million aggregate principal amount of its 4.6% notes due 2033, $1 billion aggregate principal amount of its 4.95% notes due 2036 and $750 million aggregate principal amount of its 5.8% notes due 2056.

Davis Polk also advised the underwriters in connection with a public offering by IBM of €1 billion aggregate principal amount of its 3.0% notes due 2031, €1 billion aggregate principal amount of its 3.45% notes due 2034, €750 million aggregate principal amount of its 3.85% notes due 2038 and €750 million aggregate principal amount of its floating-rate notes due 2028.

The Davis Polk capital markets team included partner John B. Meade, counsel Jennifer (Ying) Lan and Michael Stromquist and associate Monica Rodriguez. Partner Ethan R. Goldman and associate Nancy B. Regan provided tax advice. Counsel John Taylor provided European regulatory advice. Members of the Davis Polk team are based in the New York and London offices.

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