- Tenneco (NYSE:TEN) intends to offer $800M principal amount of Senior Secured Notes due 2029.
- Net proceeds along with cash on hand will be used to redeem all of its outstanding 5.000% Senior Secured Notes due 2024 and all of its outstanding Floating Rate Senior Secured Notes due 2024.
- Separately, the company announced its intention to redeem all of its outstanding 5.000% Senior Secured Notes due 2024 (€350M) and all of its outstanding Floating Rate Senior Secured Notes (€300M) due 2024 on April 2, 2021.
- Redemption price for the 2024 Secured Notes will be equal to 102.500% of the principal amount while redemption price for the 2024 FR Secured Notes will be equal to 100.000% of the principal amount.
- Redemption to be funded from proceeds of its earlier announced offering of senior secured notes due 2029 along with cash on hand.