UPDATE 1-IBM sells $3.9 billion of corporate bonds-IFR

(Adds first large bond sale since Caterpillar, details)

NEW YORK, Oct 9 (Reuters) - IBM (IBM.N) sold $3.9 billion of corporate bonds on Thursday, the first major bond sale in frozen credit markets since last month, IFR said.

IBM sold the bonds in three parts, including $1.4 billion of five-year notes at 387.5 basis points over Treasuries, $1.5 billion of 10-year notes at 387.5 basis points, and $1 billion of 30-year bonds at 400 basis points, IFR said.

Stocks plummeted again on Thursday, after rising in early trading as stronger-than-expected profit from technology bellwether IBM spurred gains. IBM was able to sell bonds amid a stock sell-off that extended declines for a seventh straight day.

Caterpillar Financial Services, a unit of machinery maker Caterpillar Inc (CAT.N) launched a $1.25 billion two-part debt sale last month, the first major issue since the recent turbulence in the markets. (Editing by James Dalgleish)