Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant
On March 9, 2009, The Dow Chemical Company (the "Company") drew down $3 billion
under its Five Year Competitive Advance and Revolving Credit Facility Agreement,
dated April 24, 2006, among the Company, the lenders named therein, and JPMorgan
Chase Bank, N.A. and Citibank, N.A. as co-administrative agents. The Company
intends to use the funds, which are repayable in April 2011, to finance its day
to day operations, to repay indebtedness maturing in the ordinary course and for
other general corporate purposes.
