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Corning Prices $250 Million Of Senior Unsecured Notes

Stocks in this article: GLW

Corning Incorporated (NYSE:GLW) announced today that it has priced $250 million aggregate principal amount of senior unsecured notes at a coupon of 1.45%. The notes will mature on November 15, 2017. Subject to customary closing conditions, the transaction is expected to close on October 31, 2012. A portion of the net proceeds of the offering will be used to fund the purchase of the debt securities subject to the tender offer and the redemptions announced by the company today, and any excess net proceeds will be used for general corporate purposes.

Citigroup Global Markets Inc. and J.P. Morgan 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: Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Telephone: (800) 831-9146; or J.P. Morgan Securities LLC, 383 Madison Avenue, New York, NY, 10179, Attn: Investment Grade Syndicate Desk, (212) 834-4533. 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.

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