CTVA · 8-K · 20260930PR408740
Outstanding Indebtedness
Corteva, Inc. · 2026-09-30 · Importance 67 · Surprise 42 · Contradicted
As of September 29, 2026, holders tendered $434.841 million of EIDP’s $500 million 2.300% Senior Notes due 2030 (86.97%), $476.214 million of its $500 million 5.125% Senior Notes due 2032 (95.24%), and $527.584 million of its $600 million 4.800% Senior Notes due 2033 (87.93%). Vylor is offering corresponding newly issued notes in exchange for the tendered EIDP notes, representing $1.439 billion of principal tendered across the three series. The exchange expiration was extended from September 29 to September 30, 2026, and settlement was expected on or about the first business day after expiration, substantially simultaneously with Corteva’s separation. The exchange and related indenture amendments are conditioned on consummation of the separation; the amendments become operative only upon settlement.
Key facts
- EIDP had $500,000,000 of 2.300% Senior Notes due 2030 outstanding; $434,841,000, or 86.97%, was validly tendered and not withdrawn by 5:00 p.m. New York City time on September 29, 2026, for corresponding 2.300% Vylor notes due 2030. source
- EIDP had $500,000,000 of 5.125% Senior Notes due 2032 outstanding; $476,214,000, or 95.24%, was validly tendered and not withdrawn by 5:00 p.m. New York City time on September 29, 2026, for corresponding 5.125% Vylor notes due 2032. source
- EIDP had $600,000,000 of 4.800% Senior Notes due 2033 outstanding; $527,584,000, or 87.93%, was validly tendered and not withdrawn by 5:00 p.m. New York City time on September 29, 2026, for corresponding 4.800% Vylor notes due 2033. source
- Vylor extended the expiration date of the EIDP note exchange offers and related consent solicitations from 5:00 p.m. New York City time on September 29, 2026, to 5:00 p.m. New York City time on September 30, 2026. source
- Vylor received the requisite consents on behalf of EIDP to adopt the proposed amendments, and EIDP and the trustee executed and delivered a supplemental indenture giving effect to them; the amendments become operative only upon settlement of the exchange offers and consent solicitations. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| liability | positive | probable | — | EIDP had $500,000,000 of 2.300% Senior Notes due 2030 outstanding; $434,841,000, or 86.97%, was validly tendered and not withdrawn by 5:00… |
| liability | positive | probable | — | EIDP had $500,000,000 of 5.125% Senior Notes due 2032 outstanding; $476,214,000, or 95.24%, was validly tendered and not withdrawn by 5:00… |
| liability | positive | probable | — | EIDP had $600,000,000 of 4.800% Senior Notes due 2033 outstanding; $527,584,000, or 87.93%, was validly tendered and not withdrawn by 5:00… |