Eastman Chemical issues $500M of 5.000% Notes due 2029; to refinance $250M of 2025 notes via tender offer

EASTMAN CHEMICAL CO

Issued $500M aggregate principal amount of 5.000% Notes due 2029 on Aug 1, 2024.
Net proceeds expected ~$494.4M after underwriting discounts and expenses.
Up to $250M of proceeds to fund concurrent tender offer for 3.800% Notes due 2025.
Remaining proceeds for general corporate purposes including working capital, capex, and strategic initiatives.
Notes callable at make-whole (T+15 bps) before July 1, 2029; at par thereafter.

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