- GE, Vivendi $1 Billion Apart over NBCU Stake: Report
- Dismantle Big Banks, Not 'Coddle' Them: Fed's Fisher
- Wall Street Hiring Again, but Top Talent Hard to Find
- Dell Shares Smacked as Earnings, Sales Miss Forecasts
- The 'Real' Jobless Rate: 17.5% Are Out of Work
- US Senators Want Probe into Alleged Yuan 'Manipulation
- Oprah to Leave Syndication in 2011
- High-Roller Sues Harrah's After Losing Millions at Casino
- The Art of the High-End Comic Strip
- Drugs, Booze and Vegas
- Expect a 5-10% Market Pullback: Stock Picker
- Dell Has Some Explaining to Do
- 3 Stock Picks for This Volatile Environment: Portfolio Manager
- Tamminen: California Is At It Again
- Iverson Wasn't A Popular "Answer"
- Nov. 19: Unusual Volume Leaders
- 3 Financial Stocks May Lead Final Rally: Market Researcher
- My Top 10 Marketing Ideas For Winless Nets
- Free clinics tied to health care debate
- Liberace, Cruise, Palin among Winfrey's highlights
- Taiwan firm uses recycled paper in shoemaking
- Volkswagen board moves closer to Porsche merger
- Heidi Klum wows crowd at Victoria's Secret show
- S. Korean minister nixes new US trade negotiations
- Hawaii marine monument to welcome teachers
- Former CEO of Bricsnet indicted for embezzlement
- High-roller files civil suit against Harrah's
Text Size 
ARMONK, N.Y. - IBM Corp. on Friday made an offer to certain debt holders to swap their long-term debt with bonds carrying a lower interest rate plus cash in a move to save money and bolster its balance sheet.
The computer maker said it started a tender offer to exchange its 7.125 percent debentures due 2096, 7 percent debentures due 2045 and 8 percent notes due 2038 for senior notes due in 2039 that carry a lower interest rate of 5.6 percent.
To entice investors to exchange higher-interest debt for new notes that pay a lower rate, IBM will give them cash as well. In addition, holders of the 2038 notes who exchange their debt will get 10 percent more worth of new notes.
The new debt will be unsecured senior notes.
Investors who swap their debt early will get the full face value of the security. The deadline for the tender offer is 5 pm. EST on Nov. 20.
Shares of IBM, based in Armonk, N.Y., rose 94 cents to close at $123.49 on Friday.
Print
Email
- Alternative energy's hot spot is making a comeback after some dark days in the past year.
- Athena Health is offering an electronic records and billing system to boost cash flow and simplify payments.
- The world’s two largest carbon emitters — the US and China — may have put a nail in the coffin of a global carbon reduction agreement.
- Every investor knows the connection between stocks and the dollar. But is there any method to the market's madness?
- NBA’s New Jersey Nets have yet to win a game this year. How can they get people to see them play?
- CNBC contributor David Pogue looks at a wireless speaker system designed to play music throughout your home.
Data is a real-time snapshot *Data is delayed at least 15 minutes