{"id":389747,"date":"2020-11-30T11:34:00","date_gmt":"2020-11-30T16:34:00","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=389747"},"modified":"2020-11-30T11:34:00","modified_gmt":"2020-11-30T16:34:00","slug":"tenneco-announces-closing-of-notes-offering","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/tenneco-announces-closing-of-notes-offering\/","title":{"rendered":"Tenneco Announces Closing of Notes Offering"},"content":{"rendered":"
\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n LAKE FOREST, Ill.<\/span>, Nov. 30, 2020<\/span> \/PRNewswire\/ —\u00a0Tenneco Inc. (NYSE: TEN) (“Tenneco”) today announced that it has completed its previously announced notes offering (the “Offering”) of $500 million<\/span> aggregate principal amount of 7.875% Senior Secured Notes due 2029 (the “Notes”). <\/p>\n

\n

\n
\n \"Tenneco,
\n <\/a>\n <\/p>\n<\/p><\/div>\n

The Notes are guaranteed by each of Tenneco’s subsidiaries that guarantees its credit facility and outstanding notes.\u00a0The Notes and the subsidiary guarantees are secured by first priority security interests in substantially all of Tenneco’s and the subsidiary guarantors’ assets, subject to certain excluded assets, exceptions and permitted liens, which security interests rank equally with the security interests securing its credit facility and outstanding secured notes.<\/p>\n

Tenneco intends to use the net proceeds of the Offering, together with available cash, to redeem all of its outstanding 4.875% Senior Secured Notes due 2022 (the “2022 Notes”), including the payment of premiums, accrued and unpaid interest and expenses related to such redemption, which is scheduled to occur on December 14, 2020<\/span>.<\/p>\n

The Notes and the related guarantees are not registered under the Securities Act of 1933, as amended (the “Securities Act”) or any state securities laws, and may not be offered or sold in the United States<\/span> or to U.S. persons absent registration or an applicable exemption from such registration requirements. Accordingly, the Notes and the related guarantees were offered and sold only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act and to non-U.S. persons in offshore transactions outside the United States<\/span> in accordance with Regulation S under the Securities Act. <\/p>\n

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, the Notes in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.<\/p>\n

\n About Tenneco
<\/b>Tenneco is one of the world’s leading designers, manufacturers and marketers of automotive products for original equipment and aftermarket customers, with 2019 revenues of $17.5 billion<\/span> and approximately 78,000 team members working at more than 300 sites worldwide.\u00a0 Through our four business groups, Motorparts, Ride Performance, Clean Air and Powertrain, Tenneco is driving advancements in global mobility by delivering technology solutions for diversified global markets, including light vehicle, commercial truck, off-highway, industrial, motorsport and the aftermarket. Visit www.tenneco.com<\/a> to learn more.<\/p>\n

\n Cautionary Note Regarding Forward-Looking Statements
<\/b>The disclosures herein concerning the Offering and the use of net proceeds of the Offering include statements that are “forward looking” within the meaning of federal securities law. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements.<\/p>\n

\n Investor inquiries<\/b>
\n
\n Linae Golla<\/span>
\n
847 482-5162
lgolla@tenneco.com<\/a><\/p>\n

Rich Kwas
248-849-1340
rich.kwas@tenneco.com<\/a><\/p>\n

\n Media inquiries
<\/b>
\n Bill Dawson<\/span>
\n
847 482-5807
bdawson@tenneco.com<\/a><\/p>\n

\u00a0<\/p>\n

<\/div>\n

\n \"Cision\" View original content to download multimedia:http:\/\/www.prnewswire.com\/news-releases\/tenneco-announces-closing-of-notes-offering-301181704.html<\/a><\/p>\n

SOURCE Tenneco Inc.<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

PR Newswire LAKE FOREST, Ill., Nov. 30, 2020 \/PRNewswire\/ —\u00a0Tenneco Inc. (NYSE: TEN) (“Tenneco”) today announced that it has completed its previously announced notes offering (the “Offering”) of $500 million aggregate principal amount of 7.875% Senior Secured Notes due 2029 (the “Notes”). The Notes are guaranteed by each of Tenneco’s subsidiaries that guarantees its credit facility and outstanding notes.\u00a0The Notes and the subsidiary guarantees are secured by first priority security interests in substantially all of Tenneco’s and the subsidiary guarantors’ assets, subject to certain excluded assets, exceptions and permitted liens, which security interests rank equally with the security interests securing its credit facility and outstanding secured notes. Tenneco intends to use the net proceeds of the Offering, together with available … <\/p>\n

Continue reading “Tenneco Announces Closing of Notes Offering”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-389747","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nTenneco Announces Closing of Notes Offering - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/tenneco-announces-closing-of-notes-offering\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tenneco Announces Closing of Notes Offering - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire LAKE FOREST, Ill., Nov. 30, 2020 \/PRNewswire\/ —\u00a0Tenneco Inc. (NYSE: TEN) (“Tenneco”) today announced that it has completed its previously announced notes offering (the “Offering”) of $500 million aggregate principal amount of 7.875% Senior Secured Notes due 2029 (the “Notes”). The Notes are guaranteed by each of Tenneco’s subsidiaries that guarantees its credit facility and outstanding notes.\u00a0The Notes and the subsidiary guarantees are secured by first priority security interests in substantially all of Tenneco’s and the subsidiary guarantors’ assets, subject to certain excluded assets, exceptions and permitted liens, which security interests rank equally with the security interests securing its credit facility and outstanding secured notes. 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