Indianapolis, Indiana, USA
May 11, 2023
Corteva, Inc. (“Corteva”) (NYSE: CTVA) today announced the pricing of a public offering by its direct subsidiary, EIDP, Inc. (“EIDP”) totaling $1.2 billion of Senior Notes. The net proceeds from the sale of the Notes will be used for general corporate purposes.
The public offering consists of $600 million aggregate principal amount of its 4.500% Senior Notes due in 2026 (the “2026 Notes”), which will be issued at 99.872% of their principal amount, and $600 million aggregate principal amount of its 4.800% Senior Notes due in 2033 (together with the 2026 Notes, the “Notes”), which will be issued at 99.639% of their principal amount. The Notes are being offered by means of a prospectus supplement and accompanying prospectus forming a part of the effective shelf registration statement filed with the Securities and Exchange Commission (the “SEC”) under the Securities Act of 1933, as amended (the “Securities Act”).
Goldman Sachs & Co. LLC, BofA Securities, Inc., and SMBC Nikko Securities America, Inc. are acting as joint book-running managers for the offering. The offering is expected to close on May 15, 2023, subject to the satisfaction of customary closing conditions.
You may obtain a copy of the preliminary prospectus supplement, the accompanying prospectus and the final prospectus supplement, when available, by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies of any of those documents may be obtained by calling Goldman Sachs & Co. LLC at 1-866-471-2526, BofA Securities, Inc. at 1-800-294-1322, or SMBC Nikko Securities America, Inc. at 1-888-868-6856.
This communication shall not constitute an offer to sell or the solicitation of an offer to buy any Notes, nor shall there be any sale of Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Corteva, Inc. (NYSE: CTVA) is a publicly traded, 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. EIDP is a direct subsidiary of Corteva. 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.
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