Corteva extends debt exchange offer deadline by one day

Corteva, Inc. (NYSE: CTVA) announced that Vylor Inc., its wholly owned subsidiary, has extended the expiration date of private exchange offers and consent solicitations involving three series of senior notes issued by EIDP, Inc., another Corteva subsidiary.

The deadline was extended by one day, 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.

The exchange offers involve three note series: EIDP's 2.300% Senior Notes due 2030, 5.125% Senior Notes due 2032, and 4.800% Senior Notes due 2033. As of the prior deadline, holders had tendered $434,841,000, or 86.97%, of the $500 million outstanding 2030 notes; $476,214,000, or 95.24%, of the $500 million outstanding 2032 notes; and $527,584,000, or 87.93%, of the $600 million outstanding 2033 notes.

Under the exchange offers, eligible holders may swap EIDP notes for corresponding new notes to be issued by Vylor. The exchange offers are conditioned on, among other things, the completion of Corteva's planned separation into two independent publicly traded companies — one focused on crop protection and the other on seeds, with the seed business to be held by Vylor.

Vylor previously received the requisite consents to adopt proposed amendments to the indentures governing the EIDP notes, and a supplemental indenture has been executed. Those amendments will only take effect upon settlement of the exchange offers.

Settlement is expected to occur on or about the first business day following the expiration date, substantially simultaneously with the completion of the separation, assuming remaining conditions are met. Vylor retains the right to further extend or terminate the offers.

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