EIDP Inc.
05/12/2025 | Press release | Distributed by Public on 05/12/2025 14:30
Free Writing Prospectus (Form FWP)
Filed Pursuant to Rule 433
Registration No. 333-287099-01
Final Term Sheet
May 12, 2025
EIDP, Inc.
$500,000,000 5.125% Senior Notes due 2032
This final term sheet, dated May 12, 2025 (this "Final Term Sheet"), should be read together with the preliminary prospectus supplement, dated May 12, 2025 (the "Preliminary Prospectus Supplement"), of EIDP, Inc. (formerly known as E. I. du Pont de Nemours and Company) (the "Company"). The information in this Final Term Sheet supplements the Preliminary Prospectus Supplement and supersedes the information in the Preliminary Prospectus Supplement to the extent inconsistent therewith. Capitalized terms used but not defined in this Final Term Sheet shall have the meanings ascribed to them in the Preliminary Prospectus Supplement.
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Issuer: |
EIDP, Inc. (formerly known as E. I. du Pont de Nemours and Company) |
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Title of Securities: |
5.125% Senior Notes due 2032 (the "Notes") |
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Ratings (Moody's / |
A3 / A- / A (stable / stable / stable) |
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Distribution: |
SEC-registered |
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Trade Date: |
May 12, 2025 |
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Settlement Date |
May 14, 2025 |
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Maturity Date: |
May 15, 2032 |
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Aggregate Principal Amount Offered: |
$500,000,000 |
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Price to Public |
99.582% |
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Net Proceeds to Issuer (before transaction expenses and after underwriting fees): |
$494,660,000 |
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Yield to Maturity: |
5.197% |
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Interest Rate: |
5.125% per annum |
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Interest Payment |
Semi-annually on each May 15 and November 15, commencing November 15, 2025 |
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Benchmark Treasury: |
4.000% due April 30, 2032 |
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Spread to Benchmark Treasury: |
+92 basis points |
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Benchmark Treasury Price: |
98-11 |
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Benchmark Treasury Yield: |
4.277% |
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Applicable Par Call Date: |
March 15, 2032 |
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Optional Redemption: |
Prior to March 15, 2032 (two months prior to the maturity date), callable at the greater of (a) the make-whole price of T+15 basis points and (b) 100% of the principal amount, plus accrued and unpaid interest to the redemption date. Callable at par on or after March 15, 2032 |
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Joint Bookrunners: |
BNP Paribas Securities Corp. Citigroup Global Markets Inc. HSBC Securities (USA) Inc. |
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BofA Securities, Inc. Goldman Sachs & Co. LLC J.P. Morgan Securities LLC Rabo Securities USA, Inc. SMBC Nikko Securities America, Inc. |
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Senior Co-Managers: |
BBVA Securities Inc. Credit Agricole Securities (USA) Inc. Deutsche Bank Securities Inc. PNC Capital Markets LLC Santander US Capital Markets LLC Scotia Capital (USA) Inc. SG Americas Securities, LLC Standard Chartered Bank TD Securities (USA) LLC |
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Co-Managers: |
Academy Securities, Inc. U.S. Bancorp Investments, Inc. Citizens JMP Securities, LLC Siebert Williams Shank & Co., LLC |
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CUSIP / ISIN: |
263534CS6 / US263534CS62 |
* A securities rating is not a recommendation to buy, sell, or hold securities and should be evaluated independently of any other rating. Each rating is subject to revision or withdrawal at any time by the assigning rating organization.
** It is expected that delivery of the Notes will be made to investors on or about May 14, 2025, which will be the second business day following the date hereof (such settlement cycle being referred to as "T+2"). Under Rule 15c6-1 under the Securities Exchange Act of 1934, as amended, trades in the secondary market are required to settle in one business day, unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade the Notes on any date prior to the business day before delivery of the Notes will be required, by virtue of the fact that the Notes initially will settle in T+2, to specify an alternative settlement arrangement at the time of any such trade to prevent a failed settlement. Purchasers of the Notes who wish to trade the Notes prior to the delivery of the Notes should consult their advisors.
The Company has filed a registration statement (including a prospectus) and the Preliminary Prospectus Supplement with the Securities and Exchange Commission (the "SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement, the Preliminary Prospectus Supplement and other documents the Company and Corteva, Inc. have filed with the SEC for more complete information about the Company and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the Company, any underwriter or any dealer participating in the offering will arrange to send you the Preliminary Prospectus Supplement and the accompanying prospectus if you request it by contacting (i) BNP Paribas Securities Corp. toll-free at 1-800-854-5674, (ii) Citigroup Global Markets Inc. toll-free at 1-800-831-9146, or (iii) HSBC Securities (USA) Inc. toll-free at 1-866-811-8049.
Any disclaimers or other notices that may appear below are not applicable to this communication and should be disregarded. Such disclaimers or other notices were automatically generated as a result of this communication being sent via Bloomberg or another email system.
EIDP Inc. published this content on May 12, 2025, and is solely responsible for the information contained herein. Distributed via SEC EDGAR on May 12, 2025 at 20:31 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at support@pubt.io