(Bloomberg) — Some of DuPont de Nemours Inc.’s bondholders have agreed to block part of a proposed debt exchange, complicating the chemical company’s efforts to buy back the securities after announcing a plan to spin off a unit. Holders of a majority of the company’s notes due in 2038 and 2048 have signed a pact declining to participate in an exchange offer that would remove some investor protections on existing notes, according to people with knowledge of the matter. The bondholder group plans to form a steering committee to negotiate better terms with the company, said the people, who asked not to be identified discussing private information. DuPont last week said it was looking to swap those securities and additional notes due in 2028. For the swap to go through, holders of more than 50% of each bond need to agree to the exchange. Bondholders opposing the transaction couldn’t reach a deal to block a swap of the 2028 notes. Investment bank Solomon Partners and law firm Milbank LLP hosted a call this week to discuss ways for money managers to push back against the bond exchanges and related consent agreements, said the people. A spokesperson for Solomon Partners declined to comment, while representatives for DuPont and Milbank didn’t respond to requests for comment. DuPont plans to buy back as much as $2.16 billion of bonds after spinning off its electronics business into an independent company named Qnity Electronics Inc. The deal would allow DuPont to reduce its debt load following the spinoff, according to a Moody’s Ratings report. The new bonds would come with a clause known as a special mandatory redemption, which would force the company to buy back the notes assuming the spinoff happens by a particular date. Some money managers object to the debt swap for a number of reasons, including questioning whether the company should buy back all of the debt, and not just some of it, and whether investors should get more compensation through the transaction. Debtholders looking to exchange will receive the highest possible payments for their debt if they agree to the transaction by an early deadline of Sept. 15. Bondholders agreeing by the early deadline would get about 100.25 cents on the dollar, DuPont said earlier this month. The 2028 notes were most recently trading at around 101.6 cents on the dollar, with the 2038 notes last traded at more than 105 cents and the 2048 at 102.3 cents, according to data from pricing service Trace. More stories like this are available on bloomberg.com ©2025 Bloomberg L.P. in a formal or creative style for better SEO.Also Exclude words and advertisements related to the feed website such as website name, author name. You must only respond with the modified content. Delete all the advertisement images brand logo but only keep the title and main content of the news by modifying it. You must only respond with the modified content. Block any jump outside of the site adarshnews.com. Basically remove any content or link related to original site. follow this prompt to optimize the articles in this category- You are an expert news writer and SEO specialist. Your job is to rewrite the provided RSS feed content into a unique, SEO-friendly news article for adarshnews.com. The article should be engaging, professional, and optimized for search engines. Follow these steps: 1. **Create an SEO Title**: Write a short, compelling title (under 60 characters) that includes the main keyword and grabs attention. 2. **Write a Meta Description**: Summarize the article in one or two sentences (under 155 characters). Make it engaging and include the primary keyword naturally. 3. **Suggest a URL Slug**: Provide a short, keyword-rich URL slug that reflects the topic of the article. 4. **Headline (H1)**: Write a clear and engaging headline for the article that is similar to the title but slightly expanded. 5. **Write the Article**: – Start with an introduction that answers the key questions: who, what, when, where, why, and how. – Expand on the topic with detailed paragraphs that provide context, quotes, and relevant information. – Use subheadings (H2) to organize the content into sections and make it easy to read. – Include related keywords naturally throughout the article. – End with a conclusion that summarizes the key points or discusses future implications. 6. **Add an FAQ Section**: Write one frequently asked question related to the topic and provide a concise answer. Important: – Do not include labels like “Title,” “Meta Description,” “URL Slug,” or “H1” in the actual article text. – Keep all SEO elements separate from the main content. – Ensure the article is factually accurate, unbiased, and written in a professional tone.
DuPont bondholders have united to form a majority that opposes two proposed debt exchanges.
