The Dow Chemical Company’s USD1 billion notes offering and concurrent tender offer

Proceeds from the bond offering were used to finance the tender offer.

Dow is one of the world’s leading materials science companies, serving customers in high-growth markets such as packaging, infrastructure, mobility and consumer applications. Dow operates manufacturing sites in 30 countries and employs approximately 36,000 people. In 2024, Dow delivered sales of approximately USD43bn.

The A&O Shearman team was led by capital markets partners Richard Alsop and Erika Kent, capital markets associates Ilya Mamin and Danish Hyder, and capital markets law clerk Joe Tambasco, and included tax partner Larry Crouch, tax associate Daniel Kachmar, environmental & sanctions associate Nick Ognibene and tax associate Amirah Loury.