DowDuPont’s $12.7 Billion Registered Fixed and Floating Rate Notes Offering and Concurrent $6.2 Billion Debt Tender Offer

Cravath represented the underwriters, led by Credit Suisse, Goldman Sachs & Co. LLC and J.P. Morgan Securities, in connection with the $12.7 billion registered fixed and floating rate notes offering of DowDuPont Inc. Following this offering, DowDuPont will separate into three independently traded public companies. DowDuPont expects to retain its specialty products business and to continue to operate as DuPont, a global, diversified company that will unite market-leading heritage businesses. The transaction closed on November 28, 2018.

Cravath also represented Credit Suisse, Goldman Sachs & Co. LLC and J.P. Morgan Securities as dealer managers for the related senior notes tender offer by E. I. du Pont de Nemours and Company, a subsidiary of DowDuPont Inc., totaling up to $6.2 billion. Early settlement for the debt tender offer is expected to occur on November 29, 2018, with final settlement expected to occur on December 12, 2018.

The Cravath team included partners Andrew J. Pitts and William V. Fogg and associates Douglas C. Dolan, Nicolas R. Yamagata and Charles A. Dobb on securities matters, and partner Christopher K. Fargo and associates Andrew L. Mandelbaum and Jiyeon K. Barta on tax matters.