Corning Issuing $500 Million 30-Year Bonds In US Markets - Source
15 Fevereiro 2012 - 12:47PM
Dow Jones News
Corning Inc. (GLW), a leader in specialty glass and ceramics,
plans to issue $500 million of 30-year senior unsecured bonds in
the U.S. credit markets Wednesday, according to a person familiar
with the matter.
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., 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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