By Sheri Kasprzak
New York, May 2 - The Dow Chemical Co. priced $75 million in series 2008 environmental facilities revenue bonds, an official statement said.
The bonds were sold on a negotiated basis with Goldman, Sachs & Co. as the senior manager. The issue was made through the Brazos Harbor Industrial Development Corp. of Texas.
The term bonds due May 1, 2038 have an initial 5.9% coupon. The interest rate resets on April 30, 2028.
Proceeds will be used to pay for equipment acquisition and construction costs at Dow Chemical's industrial sewage and solid waste disposal facility in Brazoria County, Texas.
Issuer: | Dow Chemical Co./Brazos Harbor Industrial Development Corp.
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Issue: | Series 2008 environmental facilities revenue bonds
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Amount: | $75 million
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Type: | Negotiated
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Maturity: | May 1, 2038
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Coupon: | 5.9% (initial, resets April 30, 2028)
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Price: | Par
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Underwriter: | Goldman, Sachs & Co. (lead)
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Pricing date: | May 1
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