Corning entered into a new Credit Agreement with a commitment amount of $1,500,000,000, dated as of July 28, 2025, with JPMorgan Chase Bank, N.A. as administrative agent, which replaces the Company's existing Credit Agreement of $1,500,000,000 dated June 6, 2022.

1. 01

   Corning entered into a new Credit Agreement with a commitment amount of $1,500,000,000, dated as of July 28, 2025, with JPMorgan Chase Bank, N.A. as administrative agent, which replaces the Company's existing Credit Agreement of $1,500,000,000 dated June 6, 2022.

2. 02

   The company said borrowings are available in dollars, sterling, yen and euros with a maximum Commitment Amount of $1,500,000,000, which may be increased by up to $500,000,000 if existing or new lenders commit to fund such increase. The Credit Agreement is scheduled to terminate on July 28, 2030 and may be extended by up to two additional 1-year periods on any anniversary of the closing date, subject to lender consent.

3. 03

   Corning said the rate of interest is equal to Term SOFR plus a margin ranging from 0.690% to 1.125%, or a base rate plus a margin ranging from 0.000% to 0.125%, with the actual margin adjustable based on Corning's unsecured debt ratings from Moody's Investors Service, Inc. and S&P Global Ratings. The company must also maintain a ratio of consolidated debt for borrowed money to consolidated total capital of no greater than 0.60 to 1.00.

4. 04

   The company said that at the time the Credit Agreement was executed, there were no borrowings outstanding under the Existing Credit Agreement and there are no amounts outstanding under the Credit Agreement. Loans to subsidiaries under the Credit Agreement will be unconditionally guaranteed by Corning.

Analysis scope · Filing bodyWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.