Nutrition & Biosciences’ $6.25 Billion Senior Notes Offering

Skadden, Arps, Slate, Meagher & Flom LLP advised DuPont on the deal.

IFF (NYSE:IFF) (Euronext Paris:IFF) (TASE:IFF) and DuPont (NYSE:DD) announced that Nutrition & Biosciences, Inc. (“N&B”) has priced an offering of $6.25 billion of senior unsecured notes, comprised of the following tranches: $300.0 million aggregate principal amount of 0.697% Senior Notes due 2022; $1.0 billion aggregate principal amount of 1.230% Senior Notes due 2025; $1.2 billion aggregate principal amount of 1.832% Senior Notes due 2027; $1.5 billion aggregate principal amount of 2.300% Senior Notes due 2030; $750.0 million aggregate principal amount of 3.268% Senior Notes due 2040; and $1.5 billion aggregate principal amount of 3.468% Senior Notes due 2050.

The Notes are to be issued in a private offering exempt from registration in accordance with Rule 144A and Regulation S under the Securities Act. The sale of the Notes is expected to be completed on or about September 16, 2020.

DuPont (NYSE:DD) is a global innovation leader with technology-based materials, ingredients and solutions that help transform industries and everyday life.

DuPont Nutrition & Biosciences applies expert science to advance market-driven, healthy and sustainable solutions for the food, beverage, dietary supplement and pharmaceutical industries.

The Skadden team included Capital Markets partner Ryan Dzierniejko (New York; Picture) and associate Annabelle Gardere (Toronto).

Involved fees earner: Ryan Dzierniejko – Skadden Arps Slate Meager & Flom; Annabelle Gardere – Skadden Arps Slate Meager & Flom;

Law Firms: Skadden Arps Slate Meager & Flom;

Clients: DuPont Corporation;

Author: Ambrogio Visconti