Create new reno for 1.2 instead of modifying the 1.1 one.

releasenotes/notes/use-target-in-generate-preset-pm-5215e00d22d0205c.yaml

@@ -0,0 +1,14 @@
+---
+features_transpiler:
+  - |
+    A new ``dt`` argument has been added to :func:`.generate_preset_pass_manager` to match
+    the set of arguments of :func:`.transpile`. This will allow for the internal conversion 
+    of transpilation constraints to a :class:`.Target` representation.
+    
+upgrade_transpiler:
+  - |
+    The :func:`.generate_preset_pass_manager` function has been upgraded to, when possible,
+    internally convert transpiler constraints into a :class:`.Target` instance.
+    If a `backend` input of type :class:`.BackendV1` is provided, it will be 
+    converted to :class:`.BackendV2` to expose its :class:`.Target`. This change does 
+    not require any user action.

releasenotes/notes/use-target-in-transpile-7c04b14549a11f40.yaml

@@ -1,15 +1,8 @@
 ---
 upgrade:
   - |
-    The :func:`.generate_preset_pass_manager` (and by extension, :func:`.transpile`)
-    function has been upgraded to, in most cases,
-    internally convert transpiler constraints into a :class:`.Target` instance. 
-    If a `backend` input of type :class:`.BackendV1` is provided, it will be 
-    converted to :class:`.BackendV2` to expose its :class:`.Target`. 
-    This change does not require any user action.
-
-features_transpiler:
-  - |   
-    A new ``dt`` argument has been added to :func:`.generate_preset_pass_manager` to match
-    the set of arguments of :func:`.transpile`. This will allow for the internal conversion 
-    of transpilation constraints to a :class:`.Target` representation.
+    The :func:`.transpile` function has been upgraded to internally convert 
+    `backend` inputs of type :class:`.BackendV1` to :class:`.BackendV2`, 
+    which allows the transpilation pipeline to now access the backend 
+    constraints through a :class:`.Target`. This change does not require any 
+    user action.