DuPont Sells $2 Billion of Bonds in First Offering Since 2011Sarika Gangar
DuPont Co., the largest U.S. chemical maker by market value, sold $2 billion of bonds in its first offering in almost two years.
The company issued $1.25 billion of 2.8 percent, 10-year notes yielding 82 basis points more than similar-maturity Treasuries and $750 million of 4.15 percent, 30-year bonds with a relative yield of 97 basis points, according to data compiled by Bloomberg. The bonds are rated A2 by Moody’s Investors Service, the data show.
DuPont last sold debt in March 2011, issuing $2 billion in four parts, including $500 million of 4.25 percent, 10-year debentures with a 95 basis-point spread to benchmarks, Bloomberg data show. The bonds traded at 113.9 cents on the dollar to yield 2.37 percent on Feb. 6, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority.
Credit Suisse Group AG, Goldman Sachs Group Inc. and Morgan Stanley managed the offering for the Wilmington, Delaware-based company, Bloomberg data show. Proceeds will be used for general corporate purposes.
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