Qnity Electronics issues $1.75B in notes to fund DuPont spin-off cash distribution

DuPont de Nemours, Inc.

Qnity issued $1.0B 5.750% senior secured notes due 2032 and $750M 6.250% senior unsecured notes due 2033.
Proceeds, with credit facilities and cash, will fund a ~$4.1B cash distribution to DuPont for the spin-off.
Notes held in escrow; special mandatory redemption if spin-off not closed by March 31, 2026.
Spin-off target completion date is November 1, 2025.
Secured notes guaranteed by Qnity subsidiaries and secured by first-priority liens on collateral.

item 2.03

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