Corning enters new $1.5B revolving credit facility, replaces 2018 agreement

CORNING INC /NY

New $1.5B multi-currency revolver with potential increase up to $2B.
Maturity June 6, 2027, extendable up to two additional one-year periods.
Interest rate based on Term SOFR plus margin from 0.685% to 1.125% depending on debt ratings.
No borrowings outstanding at execution; facility includes covenants like max debt-to-capital ratio of 0.60:1.
JPMorgan Chase serves as administrative agent; replaces existing $1.5B credit agreement from 2018.

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