1 July 1999: US-based glass and optical fibre marker Corning Inc. said it would sell up to US$ 2 billion in debt securities and preferred common stock from time to time, according to a recent report.
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1 July 1999: US-based glass and optical fibre marker Corning Inc. said it would sell up to US$ 2 billion in debt securities and preferred common stock from time to time, according to a recent report. When combined with a previous registration, the Corning, New York-based company will have a total offering of US$ 2.08 billion in debt securities, common and preferred stock available for sale, according to a shelf registration filed with the Securities and Exchange Commission. Net proceeds will be used for general corporate purposes, which may include repayment or reduction of debt, working capital requirements and the funding of a portion of normal, ongoing capital spending programme.