Item 7.01. Regulation FD Disclosure.
On February 25, 2020, The Dow Chemical Company (the "Company"), a wholly owned
subsidiary of Dow Inc., issued a press release announcing the closing of its
notes offering described below and the use of proceeds to fund the full
redemption of its 3.000% Notes due November 15, 2022 and to repay other
indebtedness. The press release is furnished as Exhibit 99.1 to this Current
Report on Form 8-K.
The information included in this Current Report on Form 8-K under this Item 7.01
(including Exhibit 99.1) shall not be deemed filed for purposes of Section 18 of
the Securities Exchange Act of 1934, as amended, or otherwise subject to the
liabilities of that section, nor shall it be deemed incorporated by reference
into any filing made by the Company under the Exchange Act or the Securities Act
of 1933, as amended, except as shall be expressly set forth by specific
reference in such a filing.
Item 8.01. Other Events.
On February 25, 2020, the Company completed the offering of €2.250 billion in
aggregate principal amount of notes, consisting of €1,000,000,000 aggregate
principal amount of 0.500% Notes due 2027 (the "2027 Notes"), €750,000,000
aggregate principal amount of 1.125% Notes due 2032 (the "2032 Notes") and
€500,000,000 aggregate principal amount of 1.875% Notes due 2040 (the "2040
Notes," and together with the 2027 Notes and the 2032 Notes, the "Notes"). The
Notes were issued pursuant to the Company's registration statement on Form S-3
(File No. 333-232862-01), filed with the Securities and Exchange Commission on
July 26, 2019 (the "Registration Statement").
In connection with the offering of the Notes, the Company is filing a copy of
the Underwriting Agreement, among the Company and the several underwriters named
therein, attached as Exhibit 1.1 to this Current Report on Form 8-K and
incorporated herein by reference and into the Registration Statement.
The Notes were issued under an Indenture dated as of July 26, 2019 (the
"Indenture"), among the Company, Dow Inc., as a party with respect to the
sections described therein, and The Bank of New York Mellon Trust Company, N.A.,
as trustee. The Indenture and form of the 2027 Notes, 2032 Notes and 2040 Notes
are attached as Exhibits 4.1, 4.2, 4.3 and 4.4, respectively, to this Current
Report on Form 8-K and are incorporated herein by reference.
In connection with the offering of the Notes, the Company is filing a legal
opinion by counsel regarding the validity of the Notes, attached as Exhibit 5.1
to this Current Report on Form 8-K.
Item 9.01. Financial Statements and Exhibits.
1.1* Underwriting Agreement, dated as of February 18, 2020, among The Dow
Chemical Company and the several underwriters named therein.
4.1 Indenture dated as of July 26, 2019, between The Dow Chemical
Company, Dow Inc. and The Bank of New York Mellon Trust Company, N.A.,
as trustee (filed as Exhibit 4.3 to the Company's Annual Report on
Form 10-K, filed on February 7, 2020 and incorporated herein by
4.2* Form of 0.500% Notes due 2027
4.3* Form of 1.125% Notes due 2032
4.4* Form of 1.875% Notes due 2040
5.1* Opinion dated February 25, 2020 of Shearman & Sterling LLP.
23.1* Consent of Shearman & Sterling LLP (included in Exhibit 5.1).
99.1* Press Release issued by The Dow Chemical Company, dated February 25,
104 Cover Page Interactive Data File (embedded within the Inline XBRL
* Documents filed or furnished with this report.
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