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DuPont Announces Final Results of Exchange Offers and Consent Solicitations for Senior Notes
Prnewswire· 2025-10-01 10:45
(1) For each $1,000 principal amount of Existing Notes accepted for exchange. (2) Includes Early Participation Payment (as defined herein). For each $1,000 principal amount of the 2028 Notes validly tendered and not properly withdrawn as of the Expiration Date, all tendering eligible holders are entitled to receive the Total Consideration, as set forth in the table above. The New 2028 Notes to be issued by DuPont in exchange for the 2028 Notes will have the same interest rate, interest payment dates, maturi ...
DuPont Announces Commencement of Exchange Offers and Consent Solicitations for Senior Notes
Prnewswire· 2025-09-02 21:41
Core Viewpoint - DuPont de Nemours, Inc. is initiating offers to exchange its outstanding senior notes for new notes as part of its strategy to separate its electronics business into an independent public company, Qnity Electronics, Inc., targeted for completion on November 1, 2025 [1][15]. Exchange Offers and Consent Solicitations - The exchange offers are being made in connection with the Intended Electronics Separation and are not contingent upon the completion of the separation [1]. - DuPont is soliciting consents from eligible holders of existing notes to adopt proposed amendments to the existing indenture, which would eliminate most restrictive covenants [4]. - The exchange offers will expire on September 30, 2025, unless extended or terminated [6]. Financial Details - Eligible holders can receive an early participation payment of $50 principal amount of new notes and $2.50 in cash for each $1,000 principal amount of existing notes tendered by September 15, 2025 [8]. - The total consideration for each $1,000 principal amount of existing notes includes $950 principal amount of new notes plus the early participation payment [8]. - If the Intended Electronics Separation is completed by March 31, 2026, DuPont will redeem specific amounts of new notes at a special mandatory redemption price [10]. New Notes Characteristics - Each series of new notes will have the same interest rate, payment dates, and maturity date as the corresponding existing notes [9]. - The first interest payment on each series of new notes will include accrued and unpaid interest from the existing notes tendered [9]. Eligibility and Conditions - Documents related to the exchange offers will only be distributed to eligible holders who meet specific criteria [12]. - The completion of each exchange offer is conditioned upon at least 50.1% of the outstanding aggregate principal amount of the applicable series of existing notes being validly tendered [5].