Multi-Bank Securities, Inc. Has Successful Benchmark Offering with IBM Corporation

SOUTHFIELD, Mich., Jan. 30, 2017 /PRNewswire/ -- Multi-Bank Securities, Inc. (MBS), a Veteran-Owned Business Enterprise (VBE) and fixed-income securities broker-dealer, is pleased to announce it was recently invited to participate as a co-manager in IBM Corp.'s $2.75 billion four-part global offering of senior unsecured fixed and floating rate notes.

The tranches comprised offerings with three-, five- and 10-year maturities. A three-year floating rate note in the amount of $500 million was issued at a rate per annum of three-month U.S. dollar LIBOR plus 23%, and a fixed three-year note in the amount of $750 million with a coupon of 1.90% was priced at a spread of 45 basis points over the three-year Treasury. A five-year note with a coupon of 2.50% at a spread of 60 basis points over the five-year Treasury was also issued, along with $500 million in a 10-year note with a coupon of 3.30% at a spread of 90 basis points over the 10-year Treasury.

Due to strong investor demand, this transaction was oversubscribed and had tightened from its launch through final pricing.

"The deal was well-received by investors, especially with IBM's strong credit rating," said Jim S. Powell, senior vice president of capital markets. "We applaud IBM's commitment to working with diverse firms by including Multi-Bank Securities, Inc. as a co-manager; it helps differentiate our Firm with institutional customers who seek new-issue fixed-income products to meet their investing needs."

Since inception of the Firm's Corporate VBE Initiative in April 2014, MBS has acted in a variety of roles as an underwriter of corporate securities representing $82.4 billion in principal amount.

About Multi-Bank Securities, Inc.

Multi-Bank Securities, Inc. (MBS) is an independent, fixed-income securities broker-dealer that has been serving institutional investors across the U.S. for more than 29 years and is a veteran-owned business. Headquartered in Southfield, Mich., MBS has 14 additional offices across the U.S. and serves institutional investors in all 50 states. MBS is registered with the SEC and MSRB and Member of FINRA and SIPC. Visit finra.org to review our FINRA broker-dealer status – CRD number 22098.

For more information, visit www.mbssecurities.com.

SOURCE Multi-Bank Securities, Inc.

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