IBM Sells $1 Billion of 1.25 Percent, 3-Year Notes
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International Business Machines Corp. sold $1 billion of notes that tied for the lowest three-year coupon this year after the world’s biggest computer-services provider increased its dividend and share-repurchase program.
The 1.25 percent notes yield 37 basis points more than similar-maturity Treasuries, according to data compiled by Bloomberg. The coupon ties with the rate Colgate-Palmolive Co., the largest toothpaste maker, paid on a $250 million sale of similar-maturity debt last month, Bloomberg data show.