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EXHIBIT 4.3




THIRD SUPPLEMENTAL INDENTURE




     This THIRD SUPPLEMENTAL INDENTURE, dated as of April 10, 2007 (this “Supplemental Indenture”),
is entered into by and between Corn Products International, Inc., a corporation incorporated under
the laws of the State of Delaware (the “Company”), and The Bank of New York Trust Company, N.A., as
trustee (the “Trustee”).



W I T N E S S E T H:




     WHEREAS, the Company and the Trustee (as successor trustee to The Bank of New York) are
parties to an Indenture, dated as of August 18, 1999 (the “Indenture”), relating to the issuance
from time to time by the Company of its Securities on terms to be specified at the time of
issuance;



     WHEREAS, the Company proposes to create under the Indenture a new series of Securities;




     WHEREAS, Section 2.01 of the Indenture provides that at or prior to the issuance of any
Securities within a series, the terms of the series of Securities shall be established by a
supplemental indenture or an Officers’ Certificate pursuant to authority granted under resolutions
of the Board of Directors of the Company;



     WHEREAS, Section 10.01 of the Indenture provides that when authorized by a Certified Board
Resolution, the Company and the Trustee may enter into a supplemental indenture to change or
eliminate any of the provisions of the Indenture without the consent of the holders of any
Securities of any series then outstanding, provided that any such change or elimination would not
adversely affect such provision as applied to any series of Securities created prior to the
execution of such supplemented indenture; and



     WHEREAS, all conditions necessary to authorize the execution and delivery of this Supplemental
Indenture and to make it a valid and binding agreement of the Company have been done or performed.



     NOW, THEREFORE, in consideration of the foregoing and for other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the Company and the
Trustee mutually covenant and agree as follows:



ARTICLE ONE




RELATION TO INDENTURE; DEFINITIONS; RULES OF CONSTRUCTION




     SECTION 1.1 Relation to Indenture. This Supplemental Indenture constitutes an
integral part of the Indenture.













 





     SECTION 1.2 Definitions. For all purposes of this Supplemental Indenture, the
following terms shall have the respective meanings set forth in this Section.



     “Below Investment Grade Rating Event” means the Notes are rated below Investment Grade by each
of the Rating Agencies on any date from the date of the public notice of an arrangement that could
result in a Change of Control until the end of the 60-day period following public notice of the
occurrence of a Change of Control (which period shall be extended so long as the rating of the
Notes is under publicly announced consideration for possible downgrade by any of the Rating
Agencies); provided that a Below Investment Grade Rating Event otherwise arising by virtue of a
particular reduction in rating shall not be deemed to have occurred in respect of a particular
Change of Control (and thus shall not be deemed a Below Investment Grade Rating Event for purposes
of the definition of Change of Control Repurchase Event hereunder) if the Rating Agencies making
the reduction in rating to which this definition would otherwise apply do not announce or publicly
confirm or inform the Trustee in writing at its request that the reduction was the result, in whole
or in part, of any event or circumstance comprised of or arising as a result of, or in respect of,
the applicable Change of Control (whether or not the applicable Change of Control shall have
occurred at the time of the Below Investment Grade Rating Event).



     “Change of Control” means the occurrence of any of the following: (1) the direct or indirect
sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in
one or a series of related transactions, of all or substantially all of the properties or assets of
the Company and its subsidiaries taken as a whole to any “person” (as that term is used in Section
13(d)(3) of the Exchange Act), other than the Company or one of its subsidiaries; (2) the
consummation of any transaction (including, without limitation, any merger or consolidation) the
result of which is that any “person” (as that term is used in Section 13(d)(3) of the Exchange Act)
becomes the beneficial owner, directly or indirectly, of more than 50% of the then outstanding
number of shares of the Company’s Voting Stock; or (3) the first day on which a majority of the
members of the Company’s Board of Directors are not Continuing Directors.



     “Change of Control Repurchase Event” means the occurrence of both a Change of Control and a
Below Investment Grade Rating Event.



     “Comparable Treasury Issue” means the United States Treasury security selected by the
Quotation Agent as having a maturity comparable to the remaining term of the Notes to be redeemed
that would be utilized, at the time of selection and in accordance with customary financial
practice, in pricing new issues of corporate debt securities of comparable maturity to the
remaining term of such Notes.



     “Comparable Treasury Price” means, with respect to any redemption date, (i) the average of
four Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and
lowest such Reference Treasury Dealer Quotations, or (ii) if the Trustee obtains fewer than four
such Reference Treasury Dealer Quotations, the average of all such quotations, or (iii) if only one
Reference Treasury Dealer Quotation is received, such quotation.



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     “Continuing Directors” means, as of any date of determination, any member of the Board of
Directors of the Company who (1) was a member of such Board of Directors on the date of the
issuance of the Notes; or (2) was nominated for election or elected to such Board of Directors with
the approval of a majority of the Continuing Directors who were members of such Board of Directors
at the time of such nomination or election (either by a specific vote or by approval of the
Company’s proxy statement in which such member was named as a nominee for election as a director).



     “Exchange Act” means the Securities Exchange Act of 1934, as amended.



     “Fitch” means Fitch Ratings Ltd.



     “Investment Grade” means a rating of Baa3 or better by Moody’s (or its equivalent under any
successor rating categories of Moody’s); a rating of BBB– or better by S&P (or its equivalent under
any successor rating categories of S&P); and a rating of BBB– or better by Fitch (or its equivalent
under any successor rating categories of Fitch); or the equivalent investment grade credit rating
from any additional Rating Agency or Rating Agencies selected by the Company.



     “Moody’s” means Moody’s Investors Service Inc.



     “Quotation Agent” means the Reference Treasury Dealer appointed by the Company.



     “Rating Agency” means (1) each of Fitch, Moody’s and S&P; and (2) if any of Fitch, Moody’s or
S&P ceases to rate the Notes or fails to make a rating of the Notes publicly available for reasons
outside of the Company’s control, a “nationally recognized statistical rating organization” within
the meaning of Rule 15c3-1(c)(2)(vi)(F) under the Exchange Act, selected by the Company as a replacement
agency for Fitch, Moody’s or S&P, as the case may be.



     “Reference Treasury Dealer” means (i) each of Citigroup Global Markets Inc. and Morgan Stanley
& Co. Incorporated (or their respective affiliates that are Primary Treasury Dealers) and their
respective successors; provided, however, that if any of the foregoing shall cease to be a primary
U.S. Government securities dealer in New York City (a “Primary Treasury Dealer”), the Company will
substitute therefor another Primary Treasury Dealer, and (ii) any other Primary Treasury Dealer
selected by the Company.



     “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer
and any redemption date, the average, as determined by the Trustee, of the bid and asked prices for
the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount)
quoted in writing to the Trustee by such Reference Treasury Dealer at 5:00 p.m., New York City
time, on the third business day preceding such redemption date.



     “Treasury Rate” means, with respect to any redemption date, the rate per annum equal to the
semi-annual equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the
Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the
Comparable Treasury Price for such redemption date.



     “S&P” means Standard & Poor’s Ratings Services, a division of McGraw-Hill, Inc.



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     “Voting Stock” means the Company’s capital stock of any class or kind the holders of which are
ordinarily, in the absence of contingencies, entitled to vote for the election of directors (or
persons performing similar functions) of such Person, even if the right so to vote has been
suspended by the happening of such a contingency.



     SECTION 1.3 Rules of Construction. For all purposes of this Supplemental Indenture:



     (a) capitalized terms used herein without definition shall have the meanings specified in the
Indenture;



     (b) all references herein to Articles and Sections, unless otherwise specified, refer to the
corresponding Articles and Sections of this Supplemental Indenture;



     (c) the terms “herein,” “hereof,” “hereunder” and other words of similar import refer to this
Supplemental Indenture; and



     (d) in the event of a conflict with the definition of terms in the Indenture, the definitions
in this Supplemental Indenture shall control.



ARTICLE TWO




THE SECURITIES




     There is hereby established a series of Securities pursuant to the Indenture with the
following terms:



     SECTION 2.1 Title of the Securities. The series of Securities shall be designated the
6.000% Senior Notes due 2017 (the “Notes”).



     SECTION 2.2 Aggregate Principal Amount. The Notes will be initially issued in an
aggregate principal amount of $200,000,000 (not including the Notes authenticated and delivered
upon registration of, transfer of, or in exchange for, or in lieu of, other Securities pursuant to
Sections 2.06, 2.07, 2.08, 3.02 or 10.04 of the Indenture).



     SECTION 2.3 Maturity Date. The date on which the principal of the Notes is payable is
April 15, 2017, subject to the provisions of the Indenture relating to acceleration.



     SECTION 2.4 Ranking. The Notes will be unsecured senior debt of the Company and will
rank on a parity with all other unsecured and unsubordinated indebtedness of the Company.



     SECTION 2.5 Interest. The Notes will bear interest from April 10, 2007, or from the
most recent interest payment date to which interest has been paid or duly provided for, at a rate
of 6.000% per annum, payable semi-annually on April 15 and October 15 of each year, commencing
October 15, 2007. The Company will pay interest to the person in whose name a Note is registered
at the close of business on the April 1 or October 1, as the case may be, preceding the interest
payment date. The Company will compute interest on the basis of a 360-day year consisting of
twelve 30-day months.



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     SECTION 2.6 Issuance Price. The purchase price to be paid to the Company for the sale
of the Notes pursuant to the terms of the Underwriting Agreement, dated as of April 4, 2007,
between the Company and Citigroup Global Markets Inc. and Morgan Stanley & Co. Incorporated., as
Representatives of the several Underwriters named in Schedule 1 thereto, shall be 99.118% of the
principal amount of the Notes and the initial offering price to the public of the Notes shall be
99.768% of the principal amount of the Notes.



     SECTION 2.7 Defeasance. The Notes shall be subject to defeasance under Section 12.02
of the Indenture.



     SECTION 2.8 Form and Dating.



     (a) The Notes shall be substantially in the form of Exhibit A hereto. The Notes may
have notations, legends or endorsements required by law, stock exchange rule or usage. Each Note
shall be dated the date of its authentication.



     (b) The terms and provisions contained in the Notes shall constitute, and are hereby expressly
made, a part of this Supplemental Indenture, and the Company and the Trustee, by their execution
and delivery of this Supplemental Indenture, expressly agree to such terms and provisions and to be
bound thereby. However, to the extent any provision of any Notes conflicts with the express
provisions of this Supplemental Indenture, the provisions of this Supplemental Indenture shall
govern and be controlling.



     (c) The Notes will be issued in the form of a fully-registered Global Security. The Global
Security will be deposited with, or on behalf of, the Depositary and registered in the name of the
Depositary or its nominee. Except as set forth in the Prospectus Supplement dated April 4, 2007,
the Global Security may be transferred, in whole and not in part, only by the Depositary to its
nominee or by its nominee to such Depositary or another nominee of the Depositary or by the
Depositary or its nominee to a successor of the Depositary or a nominee of such successor. If the
Depositary is at any time unwilling or unable to continue as depositary and a successor depositary
is not appointed by the Company within 90 calendar days, the Company will issue Notes in
certificated form in exchange for the Global Security. In addition, the Company may at any time
determine not to have the Notes represented by a Global Security, and, in such event, will issue
Notes in certificated form in exchange for the Global Security. In either instance, an owner of an
interest in the Global Security would be entitled to physical delivery of such Notes in
certificated form. Notes so issued in certificated form will be issued in denominations of $1,000
and integral multiples thereof and will be issued in registered form only.



     SECTION 2.9 Optional Redemption.



     (a) The Notes will be redeemable, in whole at any time or in part from time to time, at the
Company’s option at a redemption price equal to the greater of: (i) 100% of the principal amount of
the Notes to be redeemed; and (ii) the sum of the present values of the remaining scheduled
payments of principal and interest thereon (not including any portion of such payments of interest
accrued as of the date of redemption), discounted to the date of redemption on a semi-annual basis
(assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined
below), plus 25 basis points, plus, in each case, accrued interest



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thereon to the date of
redemption. Notwithstanding the foregoing, installments of interest on Notes that are due and
payable on interest payment dates falling on or prior to a redemption date will be payable on the
interest payment date to the registered holders as of the close of business on the relevant record
date according to the Notes and the Indenture.




     (b) Notice of any redemption will be mailed at least 30 days but not more than 60 days before
the redemption date to each holder of the Notes to be redeemed. Unless the Company defaults in
payment of the redemption price, on and after the redemption date, interest will cease to accrue on
the Notes or portions thereof called for redemption. If less than all of the Notes are to be
redeemed, the Notes to be redeemed shall be selected by lot by The Depository Trust Company, in the
case of Notes represented by a global security, or by the Trustee by a method the Trustee deems to
be fair and appropriate, in the case of Notes that are not represented by a global security.



     SECTION 2.10 Repurchase Upon Change of Control.



     (a) If a Change of Control Repurchase Event occurs, unless the Company has exercised its right
to redeem the Notes, the Company will make an offer to each holder of Notes to repurchase all or
any part (in integral multiples of $1,000) of that holder’s Notes at a repurchase price in cash
equal to 101% of the aggregate principal amount of Notes repurchased plus any accrued and unpaid
interest on the Notes repurchased to the date of repurchase. Within 30 days following any Change
of Control Repurchase Event or, at the Company’s option, prior to any Change of Control, but after
the public announcement of an impending Change of Control, the Company will mail a notice to each
holder, with a copy to the Trustee, describing the transaction or transactions that constitute or
may constitute the Change of Control Repurchase Event and offering to repurchase Notes on the
payment date specified in the notice, which date will be no earlier than 30 days and no later than
60 days from the date such notice is mailed. The notice shall, if mailed prior to the date of
consummation of the Change of Control, state that the offer to repurchase is conditioned on the
Change of Control Repurchase Event occurring on or prior to the payment date specified in the
notice.



     (b) The Company will comply with the requirements of Rule 14e-1 under the Exchange Act, and
any other securities laws and regulations thereunder, to the extent those laws and regulations are
applicable in connection with the repurchase of the Notes as a result of a Change of Control
Repurchase Event. To the extent that the provisions of any securities laws or regulations conflict
with the Change of Control Repurchase Event provisions of the Notes, the Company will comply with
the applicable securities laws and regulations and will not be deemed to have breached its
obligations under the Change of Control Repurchase Event provisions of the Notes by virtue of such
conflict.



     (c) On the Change of Control Repurchase Event payment date, the Company will, to the extent
lawful:




     (i) accept for payment all Notes or portions of Notes (in integral multiples of $1,000)
properly tendered pursuant to the Company’s offer;



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     (ii) deposit with the paying agent an amount equal to the aggregate repurchase price in
respect of all Notes or portions of Notes properly tendered; and




     (iii) deliver or cause to be delivered to the Trustee the Notes properly accepted,
together with an officers’ certificate stating the aggregate principal amount of Notes being
purchased by the Company.



     (d) The paying agent will promptly mail to each holder of Notes properly tendered the
repurchase price for the Notes, and the Trustee will promptly authenticate and mail (or cause to be
transferred by book-entry) to each holder a new Note equal in principal amount to any unpurchased
portion of any Notes surrendered; provided, that each new Note will be in a principal amount of
$1,000 or an integral multiple of $1,000.



     (e) The Company will not be required to make an offer to repurchase the Notes upon a Change of
Control Repurchase Event if a third party makes such an offer in the manner, at the times and
otherwise in compliance with the requirements for an offer made by the Company and such third party
purchases all Notes properly tendered and not withdrawn under its offer.



ARTICLE THREE




AMENDMENTS TO THE INDENTURE




     SECTION 3.1 Events of Default. For purposes of this series of Notes only, Section
6.01(5) of the Indenture is deleted in its entirety and replaced with the following:




“the failure by the Company or any of its Subsidiaries to pay any principal or premium or
interest on any Indebtedness which is outstanding in a principal amount of at least
$50,000,000 (or its equivalent in another currency) in the aggregate (but excluding
Indebtedness evidenced by the Securities or otherwise arising under this Indenture), when
the same becomes due and payable (whether by scheduled maturity, required prepayment,
acceleration, demand or otherwise), and the continuation of such failure after the
applicable grace period, if any, specified in the agreement or instrument relating to such
Indebtedness; or the occurrence or existence of any other event or condition under any
agreement or instrument relating to any such Indebtedness that continues after the
applicable grace period, if any, specified in such agreement or instrument, if the effect of
such event or condition is to accelerate, or to permit the acceleration of, the maturity of
such Indebtedness; or any such Indebtedness shall be declared to be due and payable, or
required to be prepaid (other than by a regularly scheduled required prepayment), redeemed,
purchased or defeased, or an offer to prepay, redeem, purchase or defease such Indebtedness
shall be required to be made, in each case prior to the stated maturity thereof.”




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ARTICLE FOUR




MISCELLANEOUS PROVISIONS




     SECTION 4.1 Ratification. The Indenture, as supplemented and amended by this
Supplemental Indenture, is in all respects hereby adopted, ratified and confirmed.



     SECTION 4.2 Governing Law. This Supplemental Indenture shall be governed by, and
construed and enforced in accordance with, the laws of the jurisdiction which govern the Indenture
and its construction.



     SECTION 4.3 Counterparts and Method of Execution. This Supplemental Indenture may be
executed in several counterparts, all of which together shall constitute one agreement binding on
all parties hereto, notwithstanding that all parties have not signed the same counterpart.



     SECTION 4.4 Section Titles. Section titles are for descriptive purposes only and
shall not control or alter the meaning of this Supplemental Indenture as set forth in the text.



     SECTION 4.5 The Trustee. The recitals contained herein shall be taken as the
statements of the Company, and the Trustee assumes no responsibility for the correctness of the
same. The Trustee makes no representations as to the validity or sufficiency of this Supplemental
Indenture.



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     IN WITNESS WHEREOF, CORN PRODUCTS INTERNATIONAL, INC. AND THE BANK OF NEW YORK TRUST
COMPANY, N.A. have caused this Supplemental Indenture to be duly executed, all as of the day and
year first above written.




	 	 	 	 	 	 	 
	 	 	CORN PRODUCTS INTERNATIONAL, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Cheryl K. Beebe	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Cheryl K. Beebe	 	 
	 

	 	Title:
	 	Vice President and
Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Kimberly A. Hunter	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Kimberly A. Hunter	 	 
	 

	 	Title:
	 	Corporate Treasurer	 	 
	 
	 	 	 	 	 	 
	 	 	THE BANK OF NEW YORK TRUST COMPANY, N.A., as
Trustee	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ M. Callahan	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	M. Callahan	 	 
	 

	 	Title:
	 	Vice President