2026-08-31
Corteva is splitting into two independent public companies — one for its crop protection business and one for its seed business, which will be held by subsidiary Vylor Inc. To fund the split, Vylor raised $1.1 billion in senior unsecured notes: $550 million at 5.125% maturing in 2031, and $550 million at 5.625% maturing in 2036. The proceeds will go to parent company EIDP as partial payment for transferring the seed business, plus cover costs of exchanging existing EIDP bonds. Until the split is complete, EIDP guarantees the notes; if the split falls through, Vylor must redeem all the notes at 101% plus accrued interest.
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