Davis Polk advised the joint book-running managers in connection with an offering by Eastman Chemical Company of $300 million aggregate principal amount of its 3.500% notes due 2021 and $500 million aggregate principal amount of its 4.500% notes due 2028.
BofA Merrill Lynch, Citigroup and J.P. Morgan acted as Joint Book-Running Managers on the offering.
Davis Polk is also advising the dealer manager in connection with Eastman Chemical Company’s concurrent cash tender offer to purchase up to $250 million aggregate principal amount of its outstanding 5.500% notes due 2019. The concurrent cash tender offer will be funded with the proceeds of the notes offering.
Headquartered in Kingsport, Tennessee, Eastman Chemical Company is a global advanced materials and specialty additives company that employs approximately 14,500 people around the world and produces a broad range of products found in items people use every day.
The Davis Polk corporate team included partners Byron B. Rooney (Picture) and Marcel Fausten and associate Carrie Guo. Partner Michael Farber and associate Joseph M. Gerstel provided tax advice. Counsel Betty Moy Huber provided environmental advice.
Involved fees earner: Michael Farber – Davis Polk & Wardwell; Marcel Fausten – Davis Polk & Wardwell; Joseph Gerstel – Davis Polk & Wardwell; Carrie Guo – Davis Polk & Wardwell; Betty Moy Huber – Davis Polk & Wardwell; Byron Rooney – Davis Polk & Wardwell;
Law Firms: Davis Polk & Wardwell;