IBM €3.75 Billion Notes Offering

Davis Polk advised the underwriters in connection with a public offering by International Business Machines Corporation of €1.3 billion principal amount of its 0.300% notes due 2028, €1.6 billion principal amount of its 0.650% notes due 2032 and €850 million principal amount of its 1.200% notes due 2040.

The Davis Polk corporate team included partner John B. Meade and associate Michael F. Power. Counsel Ethan R. Goldman and associate Rebecca A. Rosen provided tax advice. European counsel John Taylor and associate James Harmer provided European regulatory advice. Members of the Davis Polk team are based in the New York and London offices.