Corning plans to redeem remaining 3.5% convertibles by year-end

New York, April 26 - Corning Inc. said it plans to redeem its remaining $191 million of 3.5% convertible debentures by the end of the year.

The redemption, disclosed in its 10-Q filing with the Securities and Exchange Commission, would be subject to market conditions.

During the first quarter, the Corning, N.Y., technology company called $100 million of the convertibles. Holders converted $98 million into stock, and the remaining $2 million were redeemed for cash.

In addition, holders chose to convert $6 million of the securities into stock during the quarter.

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