International Business Machines Corp, scaled back the size of its new credit line to $10 billion, from $12 billion.

IBM had initially said it was seeking an amount in that range, but the figure stated on the term sheet was $12 billion.

The company last week raised more than $11 billiom in commitments from its lead bank, Chemical Bank, and a group of co-agents.

At a bank meeting Thursday for prospective members of the general syndicate, IBM offered an "early bird" fee to banks that commit themselves to the credit quickly.

The fee will also be paid to the co-agents.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.