DuPont, Qnity Electronics Announce Offering Of Sr. Notes
(RTTNews) - DuPont de Nemours, Inc. (DD) and Qnity Electronics, Inc., DuPont's electronics business, Monday said Qnity intends to offer $1.5 billion of senior secured notes due 2032, and $1 billion of senior notes due 2033.
These notes are being issued in connection with DuPont's previously announced plan to separate its electronics business through a pro rata distribution of Qnity stock to stockholders of DuPont.
The gross proceeds of the offering will be held in escrow and released in connection with the completion of the spin-off, which is expected on November 1, 2025. Qnity intends to use the proceeds from the offering for cash distribution to DuPont plus the pre-funded interest deposit in connection with the issuance of notes.
Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.