Dow Chemical to repay up to $1.25 billion under term loan facility

By Sarah Lizee

Olympia, Wash., Aug. 26 – Dow Inc. subsidiary Dow Chemical Co. plans to repay up to $1.25 billion under Dow Silicones Corp.’s term loan facility using proceeds from new notes, according to an 8-K filing with the Securities and Exchange Commission.

The company announced on Wednesday that it completed an offering of $2 billion of notes, including $850 million of 2.1% notes due 2030 and $1.15 billion of 3.6% notes due 2050.

Proceeds will also be used to finance cash tender offers to purchase up to $550 million of Dow’s and Union Carbide Corp.’s debt securities. Any remaining proceeds will be used to repay other debt.

Dow is a specialty chemical company based in Midland, Mich.

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