DOW <DOW> TO ISSUE 56 MLN DLRS IN BONDS
Dow Chemical Co said it will
issue 100 mln New Zealand dollar denominated bonds worth
approximately 56 mln U.S. dlrs at current exchange rates.
    It said the two-year bonds will offer a floating interest
rate which will not be less than 17 pct in New Zealand dollars.
    Proceeds from the bonds, issued under the company's shelf
registration, will be swapped for U.S. funds resulting in an
all-in cost to Dow fixed at 15 basis points below the two-year
U.S. Treasury rate.
 Reuter
