#United States #Senior Notes #Tender Offer #Wilmington #DuPont

DuPont's Tender Offer: Early Results and Implications

On November 18, 2025, DuPont (NYSE: DD) announced the early results of its cash tender offer aimed at purchasing senior notes, specifically targeting up to $739,256,000 of its 5.419% Notes due in 2048. This announcement came shortly after the provision of the Offer to Purchase which was released on November 3, 2025. The tender offer is an essential step for DuPont as it strategically manages its debt obligations to optimize the capital structure following its recent corporate transformations.

As of the end of the Early Tender Date, which was November 17, 2025, a total of $936,618,000 in principal amount of the 2048 Notes had been tendered. With the maximum tender amount set at approximately $739.3 million, it was indicated that the acceptance of these notes would be subject to a proration process, due to the overall demand exceeding the maximum limit. The proration factor was calculated to be 78.9627%, meaning that not all tenders would be fulfilled in their entirety.

Key Details of the Tender Offer

The specifics of the tender offer include several notable features:

• - Tender Consideration: Holders of the 2048 Notes who validly tendered their notes prior to the Early Tender Date will receive $1,000 for each $1,000 principal amount of the notes accepted, excluding accrued interest.
• - Accrued Interest: Investors whose notes are accepted for purchase will additionally receive accrued interest from the last payment date up to, but not including, the Early Settlement Date of November 19, 2025.
• - Withdrawal Rights: The window for holders to withdraw their previously tendered notes closed as of the Early Tender Date, enhancing the urgency for investors.

Following this tender offer, DuPont aims to enhance its financial health by addressing the repayment of several senior notes maturing soon. The company expressed its goal to retire a combined total of approximately $4 billion in various senior notes, further underscoring its commitment to a robust capital strategy post-Electronics separation.

Looking Ahead: Future of DuPont

After concluding the tender offer, DuPont’s next steps include focusing on maintaining its innovative leadership in various industries, including healthcare, water management, and transportation solutions. The successful retirement of the senior notes aligns with their broader plan to optimize financial performance and investor returns in the long term.

DuPont continues to address the changing market dynamics and aims to enhance its operational capabilities while mitigating risks present in the industry. As noted in their press release, this tender offer is conducted without constituting an offer to sell or purchase securities in jurisdictions where it would be illegal to do so, thereby maintaining compliance with federal laws.

In conclusion, the early results of the tender offer reflect a strategic move by DuPont to solidify its financial structure in a competitive landscape. With continued focus on innovation and capital efficiency, DuPont is poised for future success as it navigates through the evolving challenges of the business environment.

For inquiries related to the tender offer or further details about DuPont’s corporate strategies, stakeholders are encouraged to refer to the official Offer to Purchase or contact DuPont’s investor relations.