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Vylor Joins S&P 500 and FTSE All-World After Corteva Spin-Off
Vylor has been added to several major equity indices, including the S&P 500 and FTSE All-World, following its spin-off from Corteva, while Corteva was removed from multiple indices at the same time Vylor began trading under its new ticker. Vylor completed amendments to its certificate of incorporation and bylaws that align its governance with its status as a standalone company. The seed and genetics company has a market value of about $48.6b, and its inclusion in the S&P 500, Russell and FTSE All-World means passive funds are effectively locked in as holders. The company also exchanged EIDP notes into $1.44b of Vylor senior unsecured bonds, tying its balance sheet and decision making directly to how the seed and genetics business performs rather than Corteva group choices. Investors can track how interest expense on the 2.300%, 5.125% and 4.800% bonds flows through earnings, along with the planned ESOP related share issuance from the shelf registration.
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Climate Adaptation & Water › Resilient Crop Inputs (bred seed, nutrients, protection) Capital
VYLR · Capital · Positive Vylor was added to the S&P 500, Russell and FTSE All-World after its spin-off from Corteva, locking in passive funds as holders.
CTVA · Capital · Negative Corteva was removed from multiple indices at the same time Vylor began trading, following the spin-off.
EIDP Inc · Capital · Neutral EIDP notes were exchanged into $1.44b of Vylor senior unsecured bonds, a balance-sheet event for the former Corteva entity.