Davis Polk advised the joint book-running managers in connection with an offering by Eastman Chemical Company of €200 million aggregate principal amount of its 1.50% notes due 2023 and €500 million aggregate principal amount of its 1.875% notes due 2026.

Davis Polk is also advising the dealer manager in connection with Eastman Chemical Company’s concurrent cash tender offer to purchase up to $400 million combined aggregate principal amount of its outstanding 4.5% notes due 2021, 3.6% notes due 2022, 7¼% debentures due 2024, 7⅝% debentures due 2024, 3.80% notes due 2025 and 7.60% debentures due 2027. 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 specialty chemical company that employs 15,000 people around the world and produces a broad range of advanced materials, chemicals and fibers that are found in products people use every day.

The Davis Polk corporate team included partners Richard A. Drucker and Byron B. Rooney and associate Jennifer Ying Lan. Partner Michael Mollerus and associate Samantha Jacoby provided tax advice. Counsel Betty Moy Huber and associate Yuko Masunaga provided environmental advice. All members of the Davis Polk team are based in the New York office.

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