[8-K] DuPont de Nemours, Inc. Reports Material Event
DuPont de Nemours announced that its wholly owned subsidiary, Qnity Electronics, priced an offering of debt securities consisting of $1.0 billion aggregate principal amount of 5.750% Senior Secured Notes due 2032 and $750 million aggregate principal amount of 6.250% Senior Notes due 2033. The Notes were priced at 100.000% of their principal amount and are being offered under Rule 144A and Regulation S.
The offering is being made in connection with DuPont's previously announced plan to separate its electronics business through a pro rata distribution of Qnity common stock to DuPont stockholders. The offering is expected to close on August 15, 2025, subject to customary closing conditions, and the Notes and related guarantees have not been registered under the Securities Act.
DuPont de Nemours ha annunciato che la sua controllata interamente posseduta, Qnity Electronics, ha fissato il prezzo di un'offerta di titoli di debito consistenti in $1.0 billion di importo nominale complessivo di 5.750% Senior Secured Notes scadenza 2032 e $750 million di importo nominale complessivo di 6.250% Senior Notes scadenza 2033. Le Note sono state prezzate al 100.000% del loro importo nominale e vengono offerte ai sensi della Rule 144A e della Regulation S.
L'offerta viene effettuata in relazione al piano precedentemente annunciato da DuPont di separare la sua attivit脿 elettronica tramite una distribuzione pro rata delle azioni ordinarie di Qnity agli azionisti di DuPont. La chiusura dell'offerta 猫 prevista per il 15 agosto 2025, soggetta alle consuete condizioni di chiusura, e le Note e le garanzie correlate non sono state registrate ai sensi del Securities Act.
DuPont de Nemours anunci贸 que su filial de propiedad total, Qnity Electronics, fij贸 el precio de una emisi贸n de t铆tulos de deuda consistente en $1.0 billion de importe principal agregado de 5.750% Senior Secured Notes con vencimiento en 2032 y $750 million de importe principal agregado de 6.250% Senior Notes con vencimiento en 2033. Las Notas se valoraron al 100.000% de su importe principal y se ofrecen conforme a la Rule 144A y la Regulation S.
La emisi贸n se realiza en relaci贸n con el plan previamente anunciado por DuPont de separar su negocio de electr贸nica mediante una distribuci贸n prorrata de acciones ordinarias de Qnity a los accionistas de DuPont. Se espera que la operaci贸n se cierre el 15 de agosto de 2025, sujeta a las condiciones habituales de cierre, y las Notas y las garant铆as relacionadas no han sido registradas en virtud del Securities Act.
DuPont de Nemours電� 鞝勳暋 於滌瀽 鞛愴殞靷� Qnity Electronics臧� 雼れ潓鞙茧 甑劚霅� 毂勲歃濌秾 氚滍枆鞚� 臧�瓴╈潉 瓴办爼頄堧嫟瓿� 氚滍憸頄堨姷雼堧嫟: 齑濎暋 $1.0 billion鞚� 鞐� 5.750% 靹犾垳鞙� 雼措炒攵� 毂勱秾(毵岅赴 2032) 氚� 齑濎暋 $750 million鞚� 鞐� 6.250% 靹犾垳鞙� 毂勱秾(毵岅赴 2033). 頃措嫻 雲疙姼電� 鞎‰┐臧�鞚� 100.000%搿� 臧�瓴╈澊 毂呾爼霅橃棃鞙茧┌ Rule 144A 氚� Regulation S鞐� 霐半澕 鞝滉车霅╇媹雼�.
鞚措矆 氚滍枆鞚� DuPont臧� 靷爠鞐� 氚滍憸頃� 鞝勳瀽靷梾鞚� 攵勲Μ頃橃棳 Qnity 氤错喌欤茧ゼ DuPont 欤检＜霌れ棎瓴� 牍勲 氚半秳(pro rata distribution)頃橂姅 瓿勴殟瓿� 甏�霠晿鞐� 鞚措（鞏挫電� 瓴冹瀰雼堧嫟. 瓯半灅電� 韱奠儊鞝侅澑 膦呹舶 臁瓣贝鞚� 鞝勳牅搿� 2025雲� 8鞗� 15鞚�鞐� 毵堦皭霅� 鞓堨爼鞚措┌, 頃措嫻 雲疙姼 氚� 甏�霠� 氤挫霌れ潃 Securities Act鞐� 霐半澕 霌彪霅橃 鞎婌晿鞀惦媹雼�.
DuPont de Nemours a annonc茅 que sa filiale d茅tenue en propri茅t茅 exclusive, Qnity Electronics, a fix茅 le prix d'une 茅mission de titres de dette compos茅e de $1.0 billion de montant principal agr茅g茅 de Senior Secured Notes 5,750% 茅ch茅ant en 2032 et de $750 million de montant principal agr茅g茅 de Senior Notes 6,250% 茅ch茅ant en 2033. Les Notes ont 茅t茅 plac茅es 脿 100,000% de leur montant principal et sont offertes en vertu de la Rule 144A et de la Regulation S.
L'茅mission est r茅alis茅e dans le cadre du plan pr茅c茅demment annonc茅 par DuPont de scinder son activit茅 茅lectronique par une distribution pro rata des actions ordinaires de Qnity aux actionnaires de DuPont. La cl么ture de l'op茅ration devrait avoir lieu le 15 ao没t 2025, sous r茅serve des conditions de cl么ture habituelles, et les Notes ainsi que les garanties associ茅es n'ont pas 茅t茅 enregistr茅es en vertu du Securities Act.
DuPont de Nemours gab bekannt, dass seine zu 100% im Eigentum stehende Tochtergesellschaft Qnity Electronics eine Emission von Schuldverschreibungen bepreist hat, bestehend aus einem Gesamtnennbetrag von $1.0 billion von 5,750% Senior Secured Notes f盲llig 2032 und einem Gesamtnennbetrag von $750 million von 6,250% Senior Notes f盲llig 2033. Die Notes wurden zu 100,000% ihres Nennbetrags bepreist und werden gem盲脽 Rule 144A und Regulation S angeboten.
Die Emission erfolgt im Zusammenhang mit dem zuvor angek眉ndigten Plan von DuPont, sein Elektronikgesch盲ft durch eine pro-rata-Aussch眉ttung von Qnity-Stammaktien an DuPont-Aktion盲re abzuspalten. Der Abschluss der Transaktion wird voraussichtlich am 15. August 2025 erfolgen, vorbehaltlich 眉blicher Abschlussbedingungen, und die Notes sowie die damit verbundenen Garantien sind nicht nach dem Securities Act registriert.
- $1.0 billion secured notes and $750 million unsecured notes were successfully priced, demonstrating market receptivity to the offering
- Notes were priced at 100.000% of principal, indicating issuance at par
- The offering is explicitly tied to the planned pro rata distribution of Qnity common stock, aligning financing with the separation strategy
- The debt carries fixed coupon rates of 5.750% (secured) and 6.250% (unsecured), representing material interest expense for the issuer
- The Secured Notes, Unsecured Notes and related guarantees have not been registered under the Securities Act and will be offered only under exemptions, limiting the investor base
- The offering is expected to close subject to customary conditions, so completion is not guaranteed
Insights
TL;DR The company priced $1.75B of notes at par to support the announced Qnity separation; terms and registration status are material to investors.
The transaction establishes Qnity's initial external debt profile with two tranches: a secured 2032 issue at 5.75% and an unsecured 2033 issue at 6.25%, each sold at par. Selling under Rule 144A and Regulation S reflects a private placement structure limiting public registration. The expected close is August 15, 2025, subject to customary conditions. For investors, key considerations are the interest costs, secured versus unsecured priority, and the lack of Securities Act registration for the notes and guarantees.
TL;DR Pricing of secured and unsecured notes creates the debt framework for the planned electronics spin-off and is a material financing step.
Issuance sizes of $1.0 billion (secured) and $750 million (unsecured) indicate deliberate capital structuring ahead of the pro rata distribution. The secured tranche suggests creditors will have priority claims on specified collateral, while the unsecured tranche sits pari passu with general creditors. The offering being at 100% and conducted under Rule 144A/Regulation S is consistent with institutional placement strategy. The transaction is material to the separation process but its ultimate effect depends on closing conditions and subsequent capital actions.
DuPont de Nemours ha annunciato che la sua controllata interamente posseduta, Qnity Electronics, ha fissato il prezzo di un'offerta di titoli di debito consistenti in $1.0 billion di importo nominale complessivo di 5.750% Senior Secured Notes scadenza 2032 e $750 million di importo nominale complessivo di 6.250% Senior Notes scadenza 2033. Le Note sono state prezzate al 100.000% del loro importo nominale e vengono offerte ai sensi della Rule 144A e della Regulation S.
L'offerta viene effettuata in relazione al piano precedentemente annunciato da DuPont di separare la sua attivit脿 elettronica tramite una distribuzione pro rata delle azioni ordinarie di Qnity agli azionisti di DuPont. La chiusura dell'offerta 猫 prevista per il 15 agosto 2025, soggetta alle consuete condizioni di chiusura, e le Note e le garanzie correlate non sono state registrate ai sensi del Securities Act.
DuPont de Nemours anunci贸 que su filial de propiedad total, Qnity Electronics, fij贸 el precio de una emisi贸n de t铆tulos de deuda consistente en $1.0 billion de importe principal agregado de 5.750% Senior Secured Notes con vencimiento en 2032 y $750 million de importe principal agregado de 6.250% Senior Notes con vencimiento en 2033. Las Notas se valoraron al 100.000% de su importe principal y se ofrecen conforme a la Rule 144A y la Regulation S.
La emisi贸n se realiza en relaci贸n con el plan previamente anunciado por DuPont de separar su negocio de electr贸nica mediante una distribuci贸n prorrata de acciones ordinarias de Qnity a los accionistas de DuPont. Se espera que la operaci贸n se cierre el 15 de agosto de 2025, sujeta a las condiciones habituales de cierre, y las Notas y las garant铆as relacionadas no han sido registradas en virtud del Securities Act.
DuPont de Nemours電� 鞝勳暋 於滌瀽 鞛愴殞靷� Qnity Electronics臧� 雼れ潓鞙茧 甑劚霅� 毂勲歃濌秾 氚滍枆鞚� 臧�瓴╈潉 瓴办爼頄堧嫟瓿� 氚滍憸頄堨姷雼堧嫟: 齑濎暋 $1.0 billion鞚� 鞐� 5.750% 靹犾垳鞙� 雼措炒攵� 毂勱秾(毵岅赴 2032) 氚� 齑濎暋 $750 million鞚� 鞐� 6.250% 靹犾垳鞙� 毂勱秾(毵岅赴 2033). 頃措嫻 雲疙姼電� 鞎‰┐臧�鞚� 100.000%搿� 臧�瓴╈澊 毂呾爼霅橃棃鞙茧┌ Rule 144A 氚� Regulation S鞐� 霐半澕 鞝滉车霅╇媹雼�.
鞚措矆 氚滍枆鞚� DuPont臧� 靷爠鞐� 氚滍憸頃� 鞝勳瀽靷梾鞚� 攵勲Μ頃橃棳 Qnity 氤错喌欤茧ゼ DuPont 欤检＜霌れ棎瓴� 牍勲 氚半秳(pro rata distribution)頃橂姅 瓿勴殟瓿� 甏�霠晿鞐� 鞚措（鞏挫電� 瓴冹瀰雼堧嫟. 瓯半灅電� 韱奠儊鞝侅澑 膦呹舶 臁瓣贝鞚� 鞝勳牅搿� 2025雲� 8鞗� 15鞚�鞐� 毵堦皭霅� 鞓堨爼鞚措┌, 頃措嫻 雲疙姼 氚� 甏�霠� 氤挫霌れ潃 Securities Act鞐� 霐半澕 霌彪霅橃 鞎婌晿鞀惦媹雼�.
DuPont de Nemours a annonc茅 que sa filiale d茅tenue en propri茅t茅 exclusive, Qnity Electronics, a fix茅 le prix d'une 茅mission de titres de dette compos茅e de $1.0 billion de montant principal agr茅g茅 de Senior Secured Notes 5,750% 茅ch茅ant en 2032 et de $750 million de montant principal agr茅g茅 de Senior Notes 6,250% 茅ch茅ant en 2033. Les Notes ont 茅t茅 plac茅es 脿 100,000% de leur montant principal et sont offertes en vertu de la Rule 144A et de la Regulation S.
L'茅mission est r茅alis茅e dans le cadre du plan pr茅c茅demment annonc茅 par DuPont de scinder son activit茅 茅lectronique par une distribution pro rata des actions ordinaires de Qnity aux actionnaires de DuPont. La cl么ture de l'op茅ration devrait avoir lieu le 15 ao没t 2025, sous r茅serve des conditions de cl么ture habituelles, et les Notes ainsi que les garanties associ茅es n'ont pas 茅t茅 enregistr茅es en vertu du Securities Act.
DuPont de Nemours gab bekannt, dass seine zu 100% im Eigentum stehende Tochtergesellschaft Qnity Electronics eine Emission von Schuldverschreibungen bepreist hat, bestehend aus einem Gesamtnennbetrag von $1.0 billion von 5,750% Senior Secured Notes f盲llig 2032 und einem Gesamtnennbetrag von $750 million von 6,250% Senior Notes f盲llig 2033. Die Notes wurden zu 100,000% ihres Nennbetrags bepreist und werden gem盲脽 Rule 144A und Regulation S angeboten.
Die Emission erfolgt im Zusammenhang mit dem zuvor angek眉ndigten Plan von DuPont, sein Elektronikgesch盲ft durch eine pro-rata-Aussch眉ttung von Qnity-Stammaktien an DuPont-Aktion盲re abzuspalten. Der Abschluss der Transaktion wird voraussichtlich am 15. August 2025 erfolgen, vorbehaltlich 眉blicher Abschlussbedingungen, und die Notes sowie die damit verbundenen Garantien sind nicht nach dem Securities Act registriert.
FAQ
What debt securities did DuPont's subsidiary Qnity price?
Who is issuing the notes and why?
At what price were the notes sold and when is closing expected?
Are the notes registered under the Securities Act?
Where can I find the press release about the offering?
