Corteva, Inc. announced on October 1, 2026, the final results of private exchange offers and consent solicitations made by Vylor Inc., a wholly owned subsidiary of Corteva, on behalf of its subsidiary EIDP, Inc.
The exchange offers and consent solicitations expired at 5:00 p.m., New York City time, on September 30, 2026. The offers allowed eligible holders of specific EIDP senior notes to exchange them for newly issued Vylor Notes. The exchange was contingent upon the completion of Corteva’s planned separation into two independent publicly traded companies, a process expected to occur on or about October 1, 2026.
The table below details the principal amounts of EIDP Notes that were validly tendered and not withdrawn by the expiration date:
- 2.300% Senior Notes due 2030: $434,841,000, representing 86.97% of the outstanding $500,000,000.
- 5.125% Senior Notes due 2032: $476,214,000, representing 95.24% of the outstanding $500,000,000.
- 4.800% Senior Notes due 2033: $527,584,000, representing 87.93% of the outstanding $600,000,000.
Subject to the terms of the offering memorandum, eligible holders who tendered by the Early Tender Deadline on August 19, 2026, received an equal principal amount of Vylor Notes and a cash payment. The cash consideration was approximately $2.90 per $1,000 principal amount for the 2.300% Notes, approximately $2.67 per $1,000 for the 5.125% Notes, and approximately $2.86 per $1,000 for the 4.800% Notes. Holders who tendered after the Early Tender Deadline received $970 principal amount of Vylor Notes per $1,000 of EIDP Notes, without the cash consideration.
All holders whose notes were accepted for exchange will also receive a cash payment for accrued and unpaid interest from the last interest payment date up to the settlement date.
