Dow to refinance $2.5 billion in debt

In an effort to push out debt maturities, Dow Chemical is issuing $2.5 billion in senior unsecured ten and thirty year bonds. Credit rating agency Moody’s Investors Service (New York) has rated the debt ‘Baa2,’ in line with Dow’s overall corporate credit rating. The interest rate for the new bonds has not been disclosed. Moody's raised Dow's credit rating late last week, citing declining leverage and $500 million in anticipated savings from the company's restructuring program.   "Dow is taking advantage of the current rate...

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