The Dow Chemical Company (NYSE:DOW) entered into a $5 billion credit agreement. The revolving credit facility was arranged by Citigroup Inc. (NYSE:C) and will mature in 5 years.
As per the agreement, debt-to-capitalization may not exceed a ratio of 0.65 times to one if the outstanding debt is $500 million or more. Other covenants and default provisions are similar to those in Dow’s existing credit pact.
As of June 30, 2011, long-term debt of the company was $18.5 billion versus $20.6 billion … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards