Davis Polk advised the underwriters in connection with a public offering by International Business Machines Corporation of $1.25 billion aggregate principal amount of its 1.700% due 2027, $1.35 billion aggregate principal amount of its 1.950% notes due 2030, $650 million aggregate principal amount of its 2.850% notes due 2040 and $750 million aggregate principal amount of its 2.950% notes due 2050.

The Davis Polk team included partners John B. Meade and John G. Crowley 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.