Dow Announces Early Results Of High-Demand Tender Offer

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(RTTNews) - The Dow Chemical Company - a wholly owned subsidiary of Dow Inc. (DOW), Tuesday announced the early results of its tender offer to repurchase certain debt securities of The Dow Chemical Company, Rohm and Haas, and Union Carbide Corporation.

The previously announced tender offer allowed investors to sell their bonds back to TDCC for cash. As of the Early Participation Date, the company has received valid tenders amounting to $1.1 billion in USD-denominated securities and €504.5 million in Euro-denominated securities.

Due to high demand, The Dow Chemical Company does not anticipate accepting further tenders beyond the early participation phase. With the withdrawal deadline having passed on March 10, 2025, bondholders can no longer withdraw their tenders. The final pricing of the offer is expected to be determined on March 11, 2025, with early settlement scheduled for March 13, 2025.

The company is conducting this tender offer as part of debt management efforts, potentially to reduce liabilities or optimize financing costs.

DOW is currently trading at $36.3 or 2.93% lower on the NYSE.