CTVA · 8-K · 20261001PR409840

Outstanding Indebtedness

Corteva, Inc. · 2026-10-01 · Importance 64 · Surprise 42 · In source text

Vylor received tenders for $1.439 billion of EIDP notes, representing 89.9% of the $1.6 billion outstanding across the 2.300% notes due 2030, 5.125% notes due 2032, and 4.800% notes due 2033. Tendered amounts were $434.841 million (86.97%) for the 2030 notes, $476.214 million (95.24%) for the 2032 notes, and $527.584 million (87.93%) for the 2033 notes. Eligible holders who tendered by the August 19, 2026 early deadline receive equal principal amounts of corresponding Vylor notes plus cash consideration of approximately $2.90, $2.67, and $2.86 per $1,000, respectively; holders tendering later receive $970 principal amount of Vylor notes per $1,000 tendered and no cash consideration. The Vylor notes retain the corresponding EIDP notes’ interest rates and maturity dates, and settlement is expected substantially simultaneously with the planned separation, expected on or about October 1, 2026.

Key facts

• The cash consideration per $1,000 principal amount was approximately $2.90 for the 2.300% notes due 2030, $2.67 for the 5.125% notes due 2032, and $2.86 for the 4.800% notes due 2033. source
• 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had $500,000,000 of 2.300% Senior Notes due 2030 outstanding; $434,841,000, or 86.97%, was validly tendered and not withdrawn by the Expiration Date. 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had $500,000,000 of 5.125% Senior Notes due 2032 outstanding; $476,214,000, or 95.24%, was validly tendered and not withdrawn by the Expiration Date. 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had $600,000,000 of 4.800% Senior Notes due 2033 outstanding; $527,584,000, or 87.93%, was validly tendered and not withdrawn by the Expiration Date. source
• Vylor, Corteva’s wholly owned subsidiary, offered to exchange eligible holders’ EIDP Notes for corresponding newly issued Vylor Notes and solicited consents to amend the EIDP Notes’ indentures. source
• For each $1,000 principal amount of eligible EIDP Notes tendered by the August 19, 2026 Early Tender Deadline and accepted, holders were to receive an equal principal amount of corresponding Vylor Notes plus cash consideration. source
• For eligible notes tendered after the August 19, 2026 Early Tender Deadline through the September 30, 2026 Expiration Date, holders were eligible to receive $970 principal amount of corresponding Vylor Notes per $1,000 principal amount of EIDP Notes and no cash consideration. source
• Vylor Notes were to have the same interest payment dates, maturity date, and interest rate as the corresponding EIDP Notes. source

Impact estimates