secwatch.observer — SEC 8-K summary
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Issuer:     CORNING INC /NY (GLW)
CIK:        0000024741
Form:       8-K
Filed at:   2022-06-07T23:59:59+00:00
Accession:  0001206774-22-001480
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/24741/000120677422001480/0001206774-22-001480-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/24741/000120677422001480/corning4070011-8k.htm
  HTML page:      https://secwatch.observer/filing/0001206774-22-001480

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