Corteva 8-K

Summary

Final results of private debt exchange offers and consent solicitations. Eligible holders tendered EIDP notes for corresponding new Vylor notes, in connection with Corteva’s planned separation of its seed business into Vylor. The exchange is expected to settle with the separation, subject to its completion.

Key Figures

• 2030 notes: $435M of $500M principal outstanding tendered (87.0%); exchanged for the same principal amount of Vylor 2.300% notes due 2030.
• 2032 notes: $476M of $500M principal outstanding tendered (95.2%); exchanged for the same principal amount of Vylor 5.125% notes due 2032.
• 2033 notes: $528M of $600M principal outstanding tendered (87.9%); exchanged for the same principal amount of Vylor 4.800% notes due 2033.
• Holders tendering by 8/19/2026 and accepted for exchange receive equal principal of Vylor notes plus cash of ≈$2.90, $2.67 or $2.86 per $1,000 principal, respectively. Later tenders receive $970 principal amount of Vylor notes per $1,000 tendered, with no cash consideration. Accepted holders also receive accrued and unpaid interest through the settlement date.
• All conditions other than completion of the separation were satisfied as of expiration on 9/30/2026. Settlement is expected substantially simultaneously with the separation, expected on or about 10/01/2026.

Investor Takeaways

• Completion of the separation is the remaining condition to watch; exchange settlement depends on its completion or waiver of applicable conditions.