International Business Machines Corp. sold $1 billion of 10-year bonds at 1.875 percent, the lowest coupon on record for dollar-denominated debt of that maturity, according to a person familiar with the offering who asked not to be identified because the terms aren’t yet public.

To contact the reporter on this story: Sarika Gangar in New York at sgangar@bloomberg.net

To contact the editor responsible for this story: John Parry at jparry5@bloomberg.net