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Chemical Week Magazine :: Business & Finance :: United States/Americas
Dow to raise debt buyback limit to $700 million
6:52 AM MST | November 22, 2013 | —Vincent Valk
Dow Chemical has raised the cap for its previously announced debt tender offer from $500 million to $700 million in response to strong demand, the company says. Dow received early tender offers to buy back $581 million of 6% Rohm and Haas (R&H) bonds due in 2017 and $402 million of 5.7% Dow bonds due in 2018. The company now will buy back $414 million of R&H bonds and $286 million of the Dow bonds, Dow says. Dow first announced the buyback in October ( CW, Nov. 4/11, p.4). R&H bondholders who tendered their bonds by 13 November will receive $1,163.89...
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