Corning to redeem 7% debentures

Corning Incorporated announced 10 May 2005 that it will redeem for cash the USD 100 million aggregate principal amount of its outstanding 7% debentures due 15 March 2007. As provided in the indenture …

Corning Incorporated announced 10 May 2005 that it will redeem for cash the USD 100 million aggregate principal amount of its outstanding 7% debentures due 15 March 2007. As provided in the indenture governing these debentures the redemption price is 100% per USD 1,000 principal amount per debenture, together with accrued and unpaid interest to the redemption date of 13 June 2005. “This redemption will not impact our 2Q guidance issued on 26 April” said James B. Flaws, Corning“s vice chairman and chief financial officer. He also noted that Corning, subject to acceptable market conditions, may seek to refinance the debt being redeemed. A notice of redemption is being sent to all currently registered holders of the 7% debentures due 15 March 2007 by the trustee, Citibank, N.A.