Corteva Announces Early Tender Results and 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
Corteva announced that its subsidiary Vylor Inc. has received sufficient tenders and consents to amend the indentures for EIDP's outstanding senior notes, with participation rates exceeding 86% across all three series. The consent solicitations successfully secured approval to eliminate restrictive covenants and change of control provisions, removing key barriers to the company's planned separation into two independent publicly traded entities.
Key figures
- Tender rate 2030
- 86.33%
- Tender rate 2032
- 93.69%
- Tender rate 2033
- 87.48%
- Tendered amount 2030
- 431634000
- Tendered amount 2032
- 468434000
- Tendered amount 2033
- 524868000
- Cash consideration 2030
- $2.90
- Cash consideration 2032
- $2.67
- Cash consideration 2033
- $2.86
- Late tender exchange ratio
- 970 per 1000
AI analysis
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