IBM tempted by low rates to raise €2.5bn, equal biggest this year

By Jon Hay
01 Nov 2013

IBM launched one of the largest euro corporate bonds of the year on Thursday, reaping heavy demand from investors who have been starved of blockbuster deals recently.

The €2.5bn seven and 12 year deal came almost a year after the Aa3/AA-/A+ rated issuer returned to the euro market with a €1bn seven year issue in November 2012, its first in the currency since 2008. That bond was priced very tightly at 20bp over mid-swaps, but ...

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