Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
CORNING INC /NY incurred credit facility of $1,500,000,000 commitment amount, increaseable by up to $500,000,000 with Lenders party thereto and JPMorgan Chase Bank, N.A. as administrative agent at Term SOFR plus margin ranging from 0.690% to 1.125% or base rate plus margin ran maturing July 28, 2030, extendable by up to two additional one-year periods.
- Instrument
- credit facility
- Principal
- $1,500,000,000 commitment amount, increaseable by up to $500,000,000
- Counterparty
- Lenders party thereto and JPMorgan Chase Bank, N.A. as administrative agent
- Rate
- Term SOFR plus margin ranging from 0.690% to 1.125% or base rate plus margin ran
- Maturity
- July 28, 2030, extendable by up to two additional one-year periods
- Event
- incurrence
Exact text from the filing
Under the Credit Agreement, borrowings are available in dollars, sterling, yen and euros to Corning and any direct or indirect wholly-owned subsidiary of Corning in a maximum amount outstanding at any one time of $1,500,000,000 (the “Commitment Amount”). The Commitment Amount may be increased over the term by up to $500,000,000 subject to existing or new lenders committing to fund such increase. The rate of interest payable under the Credit Agreement, at Corning’s option, is equal to Term SOFR (or the Adjusted EURIBO Rate with respect to euro denominated advances, the Adjusted TIBO Rate in the case of yen denominated advances or the Adjusted Daily Simple SONIA Rate in the case of sterling denominated advances), or, with the Company’s consent, an alternate rate of interest should any of the foregoing rates cease to be available, plus a margin ranging from 0.690% to 1.125% or a base rate plus a margin ranging from 0.000% to 0.125%. The actual margin is adjustable based upon the debt rati
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