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Dow Issues Debt to Pay Down Loan, Preferred Stock

10:14 AM MDT | May 8, 2009 | Vincent Valk

Dow has issued $6 billion of debt in a public offering to help pay down some of the funding used in the R&H acquisition. The debt will be offered in three series with different interest rates, coming due in 2014, 2019 and 2039. Dow will use the proceeds to retire the high-dividend stock issued to Paulson & Co. and trusts of the Haas family, as well as to help repay a $9.2 billion bridge loan. Both the high-dividend stock and the bridge loan were used to fund the R&H deal. Paulson & Co. and trusts of the Haas family will offer $1.35 billion of the...

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