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IBM grosses $500.0 million from debt offering

International Business Machines Corp. raised gross proceeds of $500.0 million from an offering of floating rate senior unsecured notes due Jan. 27, 2020.

The company plans to use the proceeds for general corporate purposes or working capital.

BNP Paribas Securities Corp., Credit Suisse Securities (USA) LLC, HSBC Securities (USA) Inc., Mizuho Securities USA LLC and RBC Capital Markets LLC were the lead underwriters.

Great Pacific Fixed Inc.ome Securities Inc., Multi-Bank Securities Inc., Santander Investment Securities Inc. and U.S. Bancorp Investments Inc. also served as underwriters for the offering.