Skip to content

Tenneco announces results for the tender offer for its 6 7/8% senior notes due 2020 and the redemption of all remaining 6 7/8% senior notes due 2020

Tenneco Inc. (NYSE: TEN) announced today the results of its previously announced cash tender offer for any and all of its $500 million 6 7/8% senior notes due 2020, which expired at 5:00 p.m., New York City time, on June 10, 2016. Pursuant to the tender offer, Tenneco has accepted for purchase $324,436,000 (or approximately 65%) of the 2020 notes which were validly tendered (and not … Continued

Tenneco Inc. (NYSE: TEN) announced today the results of its previously announced cash tender offer for any and all of its $500 million 6 7/8% senior notes due 2020, which expired at 5:00 p.m., New York City time, on June 10, 2016. Pursuant to the tender offer, Tenneco has accepted for purchase $324,436,000 (or approximately 65%) of the 2020 notes which were validly tendered (and not validly withdrawn), excluding $1,946,000 of the 2020 notes that remain subject to guaranteed delivery procedures.

Tenneco further announced today that it will redeem all of its 2020 notes that remain outstanding following the settlement of the tender offer at a redemption price of 103.438% of the principal amount thereof, plus accrued and unpaid interest to, but not including, the redemption date. The redemption date is expected to be July 13, 2016.

Tenneco has used or will use the net proceeds from its previously announced offering of $500 million 5.00% senior notes due 2026, together with cash on hand or available liquidity, to purchase the 2020 notes tendered in the tender offer, to redeem the 2020 notes pursuant to the redemption and to pay fees, premiums, expenses and accrued and unpaid interest related to the tender offer and the redemption.

This announcement is not an offer to purchase or a solicitation of an offer to sell any securities and shall not constitute a notice of redemption under the indenture governing the 2020 notes. Such notice is being made in accordance with the provisions of such indenture.

https://www.automotiveworld.com/news-releases/tenneco-announces-results-tender-offer-6-78-senior-notes-due-2020-redemption-remaining-6-78-senior-notes-due-2020/

Welcome back , to continue browsing the site, please click here