Shearman And Sterling

News February 25, 2020

The Dow Chemical Company’s €2.250 Billion Notes Offering

Shearman & Sterling advised The Dow Chemical Company (Dow) in connection with Dow’s €2.250 billion registered offering of €1 billion 0.500 percent notes due 2027, €750 million 1.125 percent notes due 2032, €500 million 1.875 percent notes due 2040. In connection with the offering, Dow applied for the listing of the notes on The New York Stock Exchange. 

Dow will use the net proceeds from this offering primarily to fund the redemption of existing notes and/or repay indebtedness, including full redemption of Dow’s 3.000 percent notes due 2022 and the partial repayment of Dow Silicones Corporation’s term loan facility.

Dow is a wholly owned subsidiary of Dow Inc. (NYSE: DOW). Dow combines global breadth, asset integration and scale, focused innovation and leading business positions to achieve profitable growth. Dow’s portfolio of plastics, industrial intermediates, coatings and silicones businesses delivers a broad range of differentiated science-based products and solutions for its customers in high-growth market segments, such as packaging, infrastructure and consumer care. Dow operates 109 manufacturing sites in 31 countries and employs approximately 36,500 people.

The Team