Corning Inc. (GLW) enlarged its offering of senior unsecured notes to $750 million from $500 million Wednesday, according to a person familiar with the matter.

The deal is now a two-part offering with $500 million of 30-year bonds, as reported earlier, and a new $250 million tranche of 25-year bonds.

Early pricing guidance has the 30-year bonds at around 175 basis points over the Treasury rate, and the 25-year bonds at around 170 basis points over Treasurys.

The bonds are anticipated to be rated A3 by Moody's Investors Service, BBB-plus by Standard & Poor's and A-minus by Fitch Ratings. They are registered with the Securities and Exchange Commission.

The Corning, N.Y., specialty glass and ceramics company intends to use the funds for general corporate purposes.

The bonds feature a change of control provision allowing investors to redeem the notes at 101 cents on the dollar should the company be acquired.

J.P. Morgan and Wells Fargo Securities are lead underwriters.

-By Patrick McGee, Dow Jones Newswires; 212-416-2382; patrick.mcgee@dowjones.com

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