DuPont Bondholders Form Majority to Reject Two Debt Swaps (1)

Some of DuPont de Nemours Inc.’s bondholders have agreed to block part of a proposed debt exchange, complicating the chemical company’s efforts to buy back the securities after announcing a plan to spin off a unit.

Holders of a majority of the company’s notes due in 2038 and 2048 have signed a pact declining to participate in an exchange offer that would remove some investor protections on existing notes, according to people with knowledge of the matter.

The bondholder group plans to form a steering committee to negotiate better terms with the company, said the people, who asked not ...