debt
confidence high
sentiment neutral
materiality 0.50
Corning completes €850M dual-tranche bond offering
CORNING INC /NY
- €300M 3.875% notes due 2026 and €550M 4.125% notes due 2031 sold at 99.986% and 99.666% of par, respectively.
- Net proceeds of ~€842.7M ($929.2M) after underwriting discounts and estimated expenses.
- Proceeds for general corporate purposes including stock buybacks, dividends, debt repayment, M&A, and capex.
- Underwriting agreement with Goldman Sachs & Co. LLC and J.P. Morgan Securities plc.