By Andrea Heisinger
New York, Aug. 24 - Dow Chemical Co. sold $84.39 million of senior unsecured Internotes in three tranches Monday, according to an FWP filing with the Securities and Exchange Commission.
A $30.18 million tranche of five-year notes priced at par to yield 5.8%. A $14.46 million tranche of seven-year notes priced at par to yield 6.65%.
The third tranche was $39.75 million in 10-year notes priced at par to yield 7.45%.
The tranches are callable at par on Aug. 15, 2010 and on every coupon payment date thereafter.
Lead agents were Bank of America Merrill Lynch and InCapital LLC. Agents were Charles Schwab & Co., Citigroup Global Markets Inc., Morgan Stanley & Co. Inc., UBS Securities LLC and Wells Fargo Securities.
The diversified chemical company is based in Midland, Mich.
| Issuer: | Dow Chemical Co.
|
| Issue: | Senior unsecured Internotes
|
| Total amount: | $84.39 million
|
| Lead agents: | Bank of America Merrill Lynch, InCapital LLC
|
| Agents: | Charles Schwab & Co., Citigroup Global Markets Inc., Morgan Stanley & Co. Inc., UBS Securities LLC, Wells Fargo Securities
|
| Call: | At par on Aug. 15, 2010 and at coupon payment dates thereafter
|
| Trade date: | Aug. 24
|
| Settlement date: | Aug. 27
|
|
|
| Five-year notes
|
| Amount: | $30.179 million
|
| Maturity: | Aug. 15, 2014
|
| Coupon: | 5.8%
|
| Price: | Par
|
| Yield: | 5.8%
|
|
|
| Seven-year notes
|
| Amount: | $14.462 million
|
| Maturity: | Aug. 15, 2016
|
| Coupon: | 6.65%
|
| Price: | Par
|
| Yield: | 6.65%
|
|
|
| 10-year notes
|
| Amount: | $39.749 million
|
| Maturity: | Aug. 15, 2019
|
| Coupon: | 7.45%
|
| Price: | Par
|
| Yield: | 7.45%
|
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