DuPont Updates Senior Notes: Announces Changes to Exchange Offers and Consent Solicitations

DuPont Announces Amended Exchange Offers for Existing Notes

WILMINGTON, DEL., Sep.16, 2025 – DuPont de Nemours, Inc. (NYSE: DD) today announced modifications to its previously declared offers allowing holders to exchange outstanding bond notes for new securities. This action involves the company’s 4.725% Notes due 2028, 5.319% Notes due 2038, and 5.419% Notes due 2048. Concurrently, DuPont is seeking consent from eligible note holders to implement specific amendments to the agreements governing these notes.

Revised Exchange Terms

As of 5:00 p.m. New York City time on September 15, 2025, DuPont confirmed receiving the necessary consents to enact proposed changes for the 2028 Notes. A supplemental agreement has been executed with the trustee overseeing these notes, though the changes depend on issuing the new notes and making early participation payments.

Initially, eligible holders who tendered their notes before the Early Participation Date were slated to receive an early payment of $50 per $1,000 principal amount in new notes, plus $2.50 in cash. The Exchange Consideration was set at $950 principal amount of new notes for every $1,000 of existing notes tendered before the Expiration date. DuPont is now adjusting the terms to ensure all eligible holders who tendered notes, including those who participated before the Early Participation Date, will receive the Total Consideration.

Withdrawal Rights and Tender Limits

The deadline for withdrawing tendered 2028 notes passed at 5:00 p.m. New York City time on September 15, 2025. However, holders of the 2038 and 2048 Notes have untill 5:00 p.m. New york City time on September 17,2025,to retract their tenders.

If DuPont does not secure sufficient consents for amendments to the 2038 and 2048 Notes, it anticipates waiving the minimum tender requirements and accepting notes up to certain limits – $400,000,000 for the 2038 Notes and $860,000,000 for the 2048 Notes – with proration procedures potentially applying.

Proration and Redemption Considerations

should the amount of 2038 or 2048 Notes tendered exceed the specified limits,the amount accepted will be steadfast proportionally,based on the total amount tendered. The proration rate will ensure that the accepted amount does not surpass the Exchange Sublimit. DuPont retains the discretion to accept all or none of tendered notes below the $2,000 denomination. Any unaccepted notes will be promptly returned to the tendering holders.

If the tendered amount of 2038 or 2048 Notes falls below the Exchange Sublimit, DuPont plans to redeem additional New 2028 Notes or outstanding 2028 Notes, leveraging funds from a planned electronics separation and existing redemption provisions.

Key Dates and Expiration

The Exchange Offers are scheduled to expire at 5:00 p.m. New York City time on September 30, 2025, though this date may be extended. Settlement for the Exchange Offers and Consent Solicitations will occur shortly thereafter, with the Total Consideration or Exchange Consideration being paid at that time.

Note Series	Original Early Participation Payment	Exchange Consideration	Withdrawal Deadline
2028 Notes	$50 New Notes + $2.50 Cash	$950 New Notes	September 15, 2025
2038 Notes	$50 new Notes + $2.50 Cash	$950 new Notes	September 17, 2025
2048 Notes	$50 New Notes + $2.50 Cash	$950 New Notes	September 17, 2025

Did you Know? Bond exchanges allow companies to refinance debt under more favorable terms, potentially reducing interest expenses and improving financial flexibility.

Understanding Bond Exchanges and Consents

Corporate bond exchanges, like the one offered by DuPont, are common financial maneuvers. Companies may offer to exchange existing bonds for new ones, often with different interest rates or maturity dates. These exchanges can be beneficial for both the company and the bondholders, depending on market conditions and individual investment goals. Obtaining consent from bondholders for amendments to the original bond agreements is crucial for ensuring the exchange is legally sound and binding. This process ensures that all parties agree to the modified terms.

According to data from the Bond Market Association, corporate bond issuance and exchange activity have been steadily increasing as companies seek to optimize their capital structures in response to fluctuating interest rates.This trend is expected to continue as economic conditions evolve.

Frequently Asked Questions About DuPont’s exchange Offers

What impact do you think these exchange offers will have on DuPont’s long-term financial strategy? How do these types of debt restructuring initiatives affect bond market dynamics?

Share your thoughts in the comments below!

What specific series of DuPont’s senior notes are targeted by the exchange offers and consent solicitations?

DuPont Updates Senior Notes: Changes to Exchange Offers and Consent Solicitations

DuPont (NYSE: DD) recently announced updates regarding its previously announced exchange offers and consent solicitations for its outstanding senior notes. These changes are crucial for investors holding DuPont debt and understanding the implications for their portfolios. This article breaks down the key details, deadlines, and potential outcomes for noteholders.

Understanding the Exchange Offers & Consent Solicitations

DuPont initiated these offers as part of its ongoing liability management strategy. The goal is to proactively manage its debt profile, perhaps reducing future interest expenses and streamlining its financial structure. this involves offering existing noteholders the possibility to exchange their current notes for new series of notes with potentially different terms, or to consent to amendments to the existing note agreements.

* Exchange Offers: Allow holders of specific senior notes to exchange them for new notes. These new notes may have different maturity dates, interest rates, or other features.

* Consent Solicitations: Seek the consent of noteholders to modify the terms of existing notes. This could involve changes to covenants, redemption provisions, or other aspects of the note agreements.

* Senior notes Affected: The offers and solicitations specifically target several series of DuPont’s outstanding senior notes, details of which are available in the official offering documents (see Resources section).

Key Changes Announced – September 16, 2025

The updates released today, September 16, 2025, primarily concern adjustments to the terms and deadlines associated with the exchange offers and consent solicitations.

* Extended Expiration Dates: several expiration dates for the exchange offers have been extended to allow more time for noteholders to consider their options. The new expiration date is October 6, 2025, at 5:00 PM ET.

* Increased Maximum Exchange Amounts: DuPont has increased the maximum aggregate principal amount of notes that can be accepted in certain exchange offers. This indicates continued strong interest from the company in completing these transactions.

* Revised Consent Fee: The consent fee offered to noteholders who consent to the proposed amendments has been slightly adjusted. Details of the revised fee are available in the amended solicitation statement.

* Withdrawal Rights: Noteholders who have already tendered their notes or submitted consents retain the right to withdraw their participation prior to the final expiration date.

Implications for Noteholders: A detailed Breakdown

These changes impact noteholders in several ways. Understanding these implications is vital for making informed decisions.

1. Potential for Improved Terms: The exchange offers may present an opportunity to exchange existing notes for new notes with more favorable terms, such as a higher interest rate or a longer maturity date.
2. Consent Fee as Incentive: The consent fee provides a direct financial incentive for noteholders to consent to the proposed amendments. Evaluate whether the fee adequately compensates for any potential drawbacks of the amendments.
3. Impact on Credit Rating: While these liability management strategies are generally viewed positively, it’s important to monitor any potential impact on DuPont’s credit rating. Changes to the debt structure could influence ratings agencies’ assessments.
4. Tax Considerations: Exchanging notes or consenting to amendments may have tax implications. noteholders should consult with their tax advisors to understand the potential tax consequences of their decisions.

DuPont’s Financial Strategy & Debt Management

DuPont’s proactive approach to debt management reflects a broader trend among large corporations. Companies are increasingly focused on optimizing their capital structures to enhance financial versatility and reduce risk.

* Post-Merger Integration: following the merger with Dow and subsequent spin-offs, DuPont has been actively reshaping its portfolio and streamlining its operations. Debt management is a key component of this process.

* Focus on Innovation: As highlighted on DuPont’s website (https://www.dupont.com/about/science-and-innovation.html), the company is heavily invested in science and innovation. Efficient capital allocation, including debt management, supports these investments.

* Shareholder Value: Reducing debt and improving financial stability ultimately contribute to enhancing shareholder value.

Practical Tips for Noteholders

Here’s a checklist for noteholders to navigate these offers and solicitations:

1. Review Official Documents: Carefully read the offering documents, solicitation statements, and any amendments. These documents contain the most accurate and up-to-date information.
2. Consult with a Financial Advisor: Seek professional advice from a financial advisor to assess the potential benefits and risks of participating in the exchange offers or consent solicitations.
3. Understand the Deadlines: Pay close attention to the expiration dates and withdrawal deadlines. Missing these deadlines could result in unfavorable outcomes.
4. Consider Tax Implications: consult with a tax advisor to understand the potential tax consequences of yoru decisions.
5. Monitor Credit Ratings: Stay informed about any changes to DuPont’s credit rating.

Resources

* DuPont Investor Relations: https://investors.dupont.com/ – Official source for investor information, including offering documents and press releases.

* Offering Documents & Solicitation Statements: Available for download on the DuPont Investor Relations website.

* Financial News Outlets: Stay updated on coverage from reputable financial news sources like the Wall Street Journal, Bloomberg, and Reuters.