Corteva Announces Extension of Expiration Date in Private Exchange Offers and Consent Solicitations for EIDP's 2.300% Senior Notes Due 2030, 5.125% Senior Notes Due 2032 and 4.800% Senior Notes Due 2033

Tender participation stood at 86.97%, 95.24% and 87.93% across the three EIDP note series as of September 29.

Rhea-AI Summary

Corteva (CTVA) announced that subsidiary Vylor extended its private debt exchange offers and related consent solicitations to September 30, 2026. The deadline moved from September 29 to 5:00 p.m., New York City time, September 30. Eligible holders can exchange EIDP notes for corresponding Vylor notes: 2.300% due 2030, 5.125% due 2032 and 4.800% due 2033.

Required consents have been received and a supplemental indenture executed, but the amendments become operative only at settlement. Completion requires Corteva's planned separation into crop protection and seed companies. Vylor expects settlement on or about the first business day after expiration, substantially simultaneously with the separation, subject to remaining conditions. All other offer terms remain unchanged.

4 points · 0 major

MixediHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

0 major · 2 points

How the balance works

Positive

• Moderate pointRequired consents received and supplemental indenture executed for the proposed amendments.
• Minor point2030 notes: $434,841,000, or 86.97%, validly tendered and not withdrawn as of September 29, 2026.
• Minor point2032 notes: $476,214,000, or 95.24%, validly tendered and not withdrawn as of September 29, 2026.
• Minor point2033 notes: $527,584,000, or 87.93%, validly tendered and not withdrawn as of September 29, 2026.

Negative

• Moderate pointCompletion requires Corteva's separation; this condition cannot be waived.
• Moderate pointExpiration extended from September 29 to September 30, 2026; settlement timing remains conditional.

News Explained

At September 29, 2026, eligible holders had validly tendered and not withdrawn $434,841,000 of $500,000,000 in 2030 notes (86.97%), $476,214,000 of $500,000,000 in 2032 notes (95.24%), and $527,584,000 of $600,000,000 in 2033 notes (87.93%).

AI-generated analysis. How Rhea-AI works. Not financial advice.

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INDIANAPOLIS, Sept. 30, 2026 /PRNewswire/ -- Corteva, Inc. (NYSE: CTVA) announced today that Vylor Inc., a Delaware corporation and its wholly owned subsidiary ("Vylor"), has extended the expiration date of each of its previously announced (i) private offers to exchange (with respect to each series, an "Exchange Offer" and together, the "Exchange Offers") any and all of the outstanding senior notes of the series listed in the table below issued by EIDP, Inc., a Delaware corporation and a wholly owned subsidiary of Corteva ("EIDP" and such notes, collectively, the "EIDP Notes"), to the extent held by eligible holders, for a corresponding series of notes to be newly issued by Vylor (collectively, the "Vylor Notes") and (ii) related consent solicitations (the "Consent Solicitations") made by Vylor on behalf of EIDP to adopt certain proposed amendments to the indentures governing the EIDP Notes (the "Proposed Amendments"). Vylor hereby extends the expiration date of each Exchange Offer and Consent Solicitation 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 (such date and time, as they may be further extended, the "Expiration Date").

The table below sets forth, for each series of EIDP Notes, the principal amount validly tendered and not validly withdrawn as of 5:00 p.m., New York City time, on September 29, 2026.

																						EIDP Notes Validly Tendered and Not Validly Withdrawn as of 5:00 p.m., New York City time, on September 29, 2026
Title of Series of EIDP Notes		CUSIP No. and ISIN of EIDP Notes					Aggregate Principal Amount of EIDP Notes Outstanding						Vylor Notes to be Issued in Exchange for EIDP Notes						Principal Amount							Percentage
2.300% Senior  Notes due 2030		263534CP2 US263534CP24				$	500,000,000						2.300% Senior Notes due 2030						$434,841,000							86.97 %
5.125% Senior Notes due 2032		263534CS6 US263534CS62				$	500,000,000						5.125% Senior Notes due 2032						$476,214,000							95.24 %
4.800% Senior Notes due 2033		263534CR8 US263534CR89				$	600,000,000						4.800% Senior Notes due 2033						$527,584,000							87.93 %

The Exchange Offers and Consent Solicitations are being made upon the terms and conditions set forth in an exchange offer memorandum and consent solicitation statement, dated August 6, 2026 (as amended or supplemented, the "Offering Memorandum"), copies of which have been made available to holders of the EIDP Notes eligible to participate in the Exchange Offers and Consent Solicitations. Each Exchange Offer and Consent Solicitation is conditioned upon, among other things, the consummation of Corteva's planned separation into two independent, publicly traded companies, one comprising its current crop protection business and the other comprising its current seed business to be owned and conducted, directly or indirectly, by Vylor (the "Separation"). Other than the Separation (without the consummation of which the Exchange Offers and Consent Solicitations will not be consummated and the Proposed Amendments contemplated by the Consent Solicitations will not become operative), Vylor may generally waive any condition with respect to the Exchange Offers and Consent Solicitations, in its sole discretion, at any time prior to the Expiration Date.

As previously announced, Vylor received, on behalf of EIDP, the requisite consents to adopt the Proposed Amendments. EIDP and the trustee under the indentures governing the EIDP Notes executed and delivered a supplemental indenture giving effect to the Proposed Amendments. The Proposed Amendments will become operative only upon the settlement of the Exchange Offers and Consent Solicitations on the Settlement Date (as defined below).

Assuming the remaining conditions to the Exchange Offers and Consent Solicitations are satisfied or (to the extent permitted) waived, settlement of the Exchange Offers is expected to occur on or about the first business day following the Expiration Date and substantially simultaneously with the consummation of the Separation, unless Vylor further extends or terminates the Exchange Offers (such date and time, as the same may be extended, the "Settlement Date"). Accordingly, Vylor may, in its discretion, further extend each of the Expiration Date and the Settlement Date as necessary to maintain such sequencing.

Except as described in this press release, all other terms of the Exchange Offers and Consent Solicitations remain unchanged. Vylor reserves the right to terminate, withdraw, amend or extend an Exchange Offer and Consent Solicitation in its sole discretion, subject to the terms and conditions set forth in the Offering Memorandum.

The Exchange Offers and Consent Solicitations are being made only to holders of EIDP Notes who satisfy the eligibility conditions described under "Disclaimer" below. Holders of EIDP Notes who desire a copy of the eligibility letter should contact D.F. King & Co., Inc., the information agent and exchange agent for the Exchange Offers and Consent Solicitations, by phone at (800) 283-9185 or by email at vylor@dfking.com. Banks and brokers should call (646) 461-2610. The eligibility letter may also be found here: www.dfking.com/vylor. D.F. King & Co., Inc. will also provide copies of the Offering Memorandum to eligible holders of EIDP Notes.

Holders of EIDP Notes are advised to check with any bank, securities broker or other intermediary through which they hold EIDP Notes as to when such intermediary needs to receive instructions from a holder in order for that holder to be able to participate in, or (in the circumstances in which revocation is permitted) revoke their instruction to participate in, the Exchange Offers and Consent Solicitations before the deadlines specified herein and in the Offering Memorandum. The deadlines set by each clearing system for the submission and withdrawal of exchange instructions will also be earlier than the relevant deadlines specified herein and in the Offering Memorandum.

Disclaimer

This press release is issued pursuant to Rule 135c under the Securities Act of 1933, as amended (the "Securities Act"). This press release is neither an offer to sell nor the solicitation of an offer to buy the Vylor Notes or any other securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which, or to any person to whom, such an offer, solicitation or sale is unlawful. The Exchange Offers and Consent Solicitations have not been and will not be registered under the Securities Act, or the securities laws of any other jurisdiction, and, accordingly, the Vylor Notes will be subject to transfer restrictions unless and until the Vylor Notes are registered or exchanged for registered notes. The Vylor Notes will be issued in reliance upon exemptions from, or in transactions not subject to, registration under the Securities Act. The Exchange Offers and Consent Solicitations are being made only to, and the Vylor Notes will be offered for exchange only to, holders of EIDP Notes who are (i) reasonably believed to be "qualified institutional buyers" (as defined in Rule 144A under the Securities Act) in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act, and (ii) outside the United States, persons who are not, and who are not acting for the account or benefit of, "U.S. persons" (as defined in Rule 902 under the Securities Act) in compliance with Regulation S under the Securities Act. The Vylor Notes will not be offered or sold in the United States or to U.S. persons (as defined in Rule 902 under the Securities Act) unless the transaction is registered under the Securities Act, an exemption from the registration requirements of the Securities Act is available or the transaction is not subject to registration under the Securities Act.

The Exchange Offers and Consent Solicitations are being made only pursuant to the Offering Memorandum. The Offering Memorandum and other documents relating to the Exchange Offers and Consent Solicitations will be distributed only to holders of EIDP Notes who confirm that they are within the categories of eligible participants in the Exchange Offers and Consent Solicitations. None of Vylor, its directors or officers, the dealer managers and solicitation agents, the exchange agent, the information agent, the trustees for the Vylor Notes or the EIDP Notes, their respective affiliates, or any other person is making any recommendation as to whether holders should tender their EIDP Notes in the Exchange Offers or deliver related consents to the Proposed Amendments in the Consent Solicitations.

The complete terms and conditions of the Exchange Offers and Consent Solicitations are set forth in the Offering Memorandum. The Exchange Offers and Consent Solicitations are only being made pursuant to the Offering Memorandum. The Exchange Offers and Consent Solicitations are not being made to holders of EIDP Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY OTHER REGULATORY BODY HAS REGISTERED, RECOMMENDED OR APPROVED OF THE VYLOR NOTES OR PASSED UPON THE ACCURACY OR ADEQUACY OF THE OFFERING MEMORANDUM. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.

About Corteva

Corteva, Inc. (NYSE: CTVA) is a global pure-play agriculture company that combines industry-leading innovation, high-touch customer engagement and operational execution to profitably deliver solutions for the world's most pressing agriculture challenges. Corteva generates advantaged market preference through its unique distribution strategy, together with its balanced and globally diverse mix of seed, crop protection, and digital products and services. With some of the most recognized brands in agriculture and a technology pipeline well positioned to drive growth, the company is committed to maximizing productivity for farmers, while working with stakeholders throughout the food system as it fulfills its promise to enrich the lives of those who produce and those who consume, ensuring progress for generations to come. More information can be found at www.corteva.com.

Cautionary Statement on Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the U.S. federal securities laws about Corteva, Vylor, EIDP, the Exchange Offers and Consent Solicitations and the Separation, including but not limited to all statements about the timing and consummation of the Exchange Offers and Consent Solicitations and the Separation, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current assumptions regarding future business and financial performance and, by their nature, address matters that are uncertain to different degrees. You can identify forward-looking statements by the use of words such as "plans," "expects," "will," "anticipates," "believes," "intends," "projects," "estimates," "outlook" or other words of similar meaning. These forward-looking statements are subject to risks and uncertainties that could cause actual results to be materially different from those set forth in such forward-looking statements, including but not limited to, the risk: (i) that general economic and capital markets conditions may adversely affect the Exchange Offers and Consent Solicitations or the Separation; (ii) that the conditions to the Exchange Offers and Consent Solicitations or the Separation may not be satisfied or waived; (iii) that any event, change or other circumstance could give rise to the termination of the Exchange Offers and Consent Solicitations and/or the Separation; (iv) of the effects that any termination of the Separation may have on Corteva or its subsidiaries; (v) that legal proceedings may be instituted related to the Separation or otherwise; (vi) of unexpected costs, charges or expenses; and (vii) of other risks and uncertainties described in Corteva's and EIDP's filings with the U.S. Securities and Exchange Commission (the "SEC"), including under the heading "Risk Factors" (Item 1A) in Corteva's most recently filed Annual Report on Form 10-K and in Corteva's subsequent Quarterly Reports on Form 10-Q, and in other documents that Corteva or EIDP files or furnishes with the SEC. Neither Corteva nor EIDP undertakes any obligation to update or revise any forward-looking statement, except as required by applicable law.

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SOURCE Corteva Agriscience

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the new deadline for Corteva's EIDP note exchange offers?

The new deadline is 5:00 p.m., New York City time, on September 30, 2026, extended from the same time on September 29. It applies to each exchange offer and related consent solicitation.

When will Corteva's EIDP note exchanges settle?

Vylor expects settlement on or about the first business day following expiration, substantially simultaneously with Corteva's separation, assuming remaining conditions are satisfied or permissibly waived. The separation condition cannot be waived. The indenture amendments become operative only upon settlement.

Who can participate in Corteva's private EIDP note exchanges, and how?

Participation is limited to eligible institutional holders and eligible non-U.S. holders outside the United States meeting the specified securities-law conditions. Holders can obtain an eligibility letter at www.dfking.com/vylor and offering materials from D.F. King. They should check intermediary deadlines, because clearing-system deadlines for submitting or withdrawing instructions are earlier than the offer deadlines.