Corning Prices $750 Million of Senior Unsecured Notes
15 Febbraio 2012 - 11:00PM
Business Wire
Corning Incorporated (NYSE: GLW) announced today that it has
priced $250 million aggregate principal amount of senior unsecured
notes at a coupon of 4.70%. The notes will mature on March 15,
2037. Additionally, the company has priced $500 million aggregate
principal amount of senior unsecured notes at a coupon of 4.75%,
which will mature on March 15, 2042. Subject to customary closing
conditions, the transactions are expected to close on February 21,
2012. Net proceeds of the offering will be used for general
corporate purposes.
J.P. Morgan Securities Inc. and Wells Fargo Securities, LLC.
served as joint book-running managers and underwriters for the
offering. The offering of the notes is being made only by means of
a prospectus and a related prospectus supplement, copies of which
may be obtained by contacting: J.P. Morgan Securities Inc., 270
Park Avenue, 8th Floor, New York, NY 10017, Attn: Investment Grade
Syndicate Desk, (212) 834-4533 or Wells Fargo Securities, LLC, 1525
West W.T. Harris Blvd., NC0675, Charlotte, North Carolina 28262,
Attn: Capital Markets Client Support, (800) 326-5897 or
cmclientsupport@wellsfargo.com. An electronic copy of the
prospectus supplement and the accompanying prospectus will also be
available on the website of the Securities and Exchange Commission
at http://www.sec.gov.
The offering is being made pursuant to an effective automatic
shelf registration statement filed with the Securities and Exchange
Commission on December 1, 2011.
This news release shall not constitute an offer to sell, or the
solicitation of an offer to buy, nor shall there be any sale of
these securities 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.
Forward-Looking and Cautionary Statements
This press release contains “forward-looking statements” (within
the meaning of the Private Securities Litigation Reform Act of
1995), which are based on current expectations and assumptions
about Corning’s financial results and business operations, that
involve substantial risks and uncertainties that could cause actual
results to differ materially. These risks and uncertainties
include: the effect of global political, economic and business
conditions; conditions in the financial and credit
markets; currency fluctuations; tax rates; product demand
and industry capacity; competition; reliance on a concentrated
customer base; manufacturing efficiencies; cost reductions;
availability of critical components and materials; new product
commercialization; pricing fluctuations and changes in
the mix of sales between premium and non-premium products; new
plant start-up or restructuring costs; possible
disruption in commercial activities due to terrorist activity,
armed conflict, political or financial instability, natural
disasters, adverse weather conditions, or major health concerns;
adequacy of insurance; equity company activities; acquisition and
divestiture activities; the level of excess or obsolete inventory;
the rate of technology change; the ability to enforce patents;
product and components performance issues; retention of key
personnel; stock price fluctuations; and adverse litigation or
regulatory developments. These and other risk factors
are detailed in Corning’s filings with the Securities and
Exchange Commission. Forward-looking statements speak only as
of the day that they are made, and Corning undertakes no obligation
to update them in light of new information or future events.
About Corning Incorporated
Corning Incorporated (www.corning.com) is the world leader in
specialty glass and ceramics. Drawing on more than 160 years of
materials science and process engineering knowledge, Corning
creates and makes keystone components that enable high-technology
systems for consumer electronics, mobile emissions control,
telecommunications and life sciences. Our products include glass
substrates for LCD televisions, computer monitors and laptops;
ceramic substrates and filters for mobile emission control systems;
optical fiber, cable, hardware & equipment for
telecommunications networks; optical biosensors for drug discovery;
and other advanced optics and specialty glass solutions for a
number of industries including semiconductor, aerospace, defense,
astronomy, and metrology.
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