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DuPont Provides Update On COVID-19 Impact On Business - Quick Facts

While reporting financial results for the first quarter on Tuesday, DuPont (DD) said it has issued $2.0 billion bond to refinance debt maturities due in November 2020 and replaced the $2.0 billion 364-day delayed-draw facility.

It also continues to advance the separation of the Nutrition & Biosciences business in preparation for merger with IFF in the first quarter of 2021.

Meanwhile, the company has implemented initiatives to mitigate the impact of COVID-19 including actions to deliver more than $500 million of working capital improvement and reducing capital expenditures by about $500 million versus the prior year.

On April 20, DuPont had suspended its financial guidance for the full-year 2020, due to global softening in automotive, oil & gas and select industrial end-markets as well as the unknown duration and intensity of the COVID-19 pandemic.

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