Davis Polk advised the underwriters in connection with a public offering by International Business Machines Corporation of $500 million principal amount of its floating-rate notes due 2020, $750 million principal amount of its 1.900% notes due 2020, $1 billion principal amount of its 2.500% notes due 2022 and $500 million principal amount of its 3.300% notes due 2027.

The Davis Polk team included partner John B. Meade and associate Paul J. Connell. Partner Michael Mollerus and counsel Ethan R. Goldman provided tax advice. All members of the Davis Polk team are based in the New York office.