Vylor Inc., a wholly owned subsidiary of Corteva, Inc., has announced the final results of its exchange offers and consent solicitations for outstanding notes issued by its subsidiary, EIDP, Inc. The offers expired at 5:00 p.m., New York City time, on September 30, 2026.
The exchange offers allowed eligible holders to tender EIDP notes for newly issued Vylor notes, conditioned upon the completion of Corteva’s planned separation into two independent companies. As of the expiration date, all conditions to the exchange offers were satisfied other than the consummation of the separation, which is expected to occur on or about October 1, 2026.
The table below details the principal amounts of EIDP notes validly tendered and not withdrawn:
- 2.300% Senior Notes due 2030: $434,841,000 validly tendered (86.97% of the $500,000,000 outstanding).
- 5.125% Senior Notes due 2032: $476,214,000 validly tendered (95.24% of the $500,000,000 outstanding).
- 4.800% Senior Notes due 2033: $527,584,000 validly tendered (87.93% of the $600,000,000 outstanding).
Eligible holders who tendered by the Early Tender Deadline on August 19, 2026, received cash consideration in addition to the principal amount of Vylor notes. The cash consideration was approximately $2.90 per $1,000 principal amount for the 2.300% notes, $2.67 per $1,000 for the 5.125% notes, and $2.86 per $1,000 for the 4.800% notes. Holders tendering after the Early Tender Deadline received only the principal amount of Vylor notes.
Settlement of the exchange offers is expected to occur substantially simultaneously with the consummation of the Separation on October 1, 2026.
