Dupont (NYSE: DD) has announced the early results of its tender offer to purchase for cash up to $739,256,000 aggregate principal amount of its 5.419% notes due 2048 issued on November 28, 2018. According to information provided by the tender and information agent for the offer, the aggregate principal amount of the 2048 notes validly tendered and not validly withdrawn as of 5:00 p.m., New York City time, on November 17, 2025, exceeded the maximum tender amount.
The table below outlines the early results of the tender offer:
- Aggregate principal amount outstanding of 5.419% notes due 2048: $1,855,219,000
- Aggregate principal amount tendered at or prior to the early tender date: $936,618,000
- Aggregate principal amount accepted: $739,256,000
- Approximate proration factor: 78.9627%
- Tender offer consideration: $1,000 per $1,000 principal amount of 2048 notes validly tendered on or prior to the early tender date and accepted for purchase by the company
As the aggregate principal amount of the 2048 notes validly tendered and not validly withdrawn at or prior to the early tender date exceeded the maximum tender amount, Dupont will accept for purchase the 2048 notes on a prorated basis, and no additional 2048 notes will be purchased after the early tender date. Payment for the accepted 2048 notes will be made on November 19, 2025.
Following the successful completion of the tender offer, Dupont will have successfully achieved its intended post-electronics separation capital structure by repaying approximately $4.0 billion aggregate principal amount of its senior notes, including the repayment at maturity of its 4.493% notes due 2025 and the special mandatory redemption of certain other notes.
Dupont is a global innovation leader, providing advanced solutions in key markets such as healthcare, water, construction, and transportation. As a result of these announcements, the company's shares have moved -3.04% on the market, and are now trading at a price of $37.525. Check out the company's full 8-K submission here.
