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Kann mir das jemand verdeutschen !
Corning Announces Convertible Debenture Offering
CORNING, N.Y.--(BUSINESS WIRE)--Nov. 8, 2001--Corning Incorporated (NYSE:GLW - news) announced
today the completion of a public offering of $600 million aggregate principal amount of convertible
debentures. These debentures will be due in November 2008, and will be issued under the company's existing
$5 billion universal shelf registration statement, declared effective by the U.S. Securities and Exchange
Commission in March 2001. In addition, Corning has granted the underwriters the option to purchase up to
$90 million aggregate principal amount of additional debentures.
The debentures pay an annual coupon rate of 3.50% and are initially convertible into approximately 71 million
shares of Corning common stock at a conversion price of $9.68 per share, representing a conversion premium
of 25% over today's closing stock price of $7.74 per share. Beginning in November 2004, the company has an
option to redeem the debentures. Upon a change in control of the company, the debenture holder may require
the company to repurchase these debentures. The senior unsecured convertible debentures will rank pari passu
with Corning's other senior, unsecured debt obligations.
The net proceeds from this offering will be used for general corporate purposes, including working capital
requirements, normal, ongoing capital spending and the possible funding of future acquisitions.
The sole book running manager was Goldman, Sachs & Co.
This represents a new financing by Corning. This offering is made by means of a prospectus supplement to a
prospectus that is part of Corning's universal shelf registration statement previously filed with the U.S.
Securities and Exchange Commission. For a copy of the prospectus and prospectus supplement relating to this
offering; contact the prospectus department of Goldman, Sachs & Co., 85 Broad Street, New York, NY 10004,
Telephone: (212) 902-1171.
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.
Established in 1851, Corning Incorporated creates leading-edge technologies for the fastest-growing markets
of the world's economy. Corning manufactures optical fiber, cable and photonic products for the
telecommunications industry; and high-performance displays and components for television, information
technology and other communications-related industries. The company also uses advanced materials to
manufacture products for scientific, semiconductor and environmental markets.
Contact:
Corning Media Contact:
Daniel F. Collins
607/974-4197
collinsdf@corning.com
or
Corning Investor Relations Contact:
Katherine M. Dietz
607/974-8217
dietzkm@corning.com