Tenneco conditionally calls 5% notes, floating-rate notes due 2024

By Taylor Fox

New York, March 3 – Tenneco Inc. plans to redeem all of its €350 million outstanding 5% senior secured notes due 2024 and €300 million outstanding floating rate senior secured notes due 2024, according to a news release.

The notes will be redeemed April 2.

The 5% notes will be redeemed at 102.5 plus interest for a total payment of €1,035.6944 per €1,000 principal amount.

The floating-rate notes will be redeemed at par plus interest for a total payment of €1,010.4271 per €1,000 principal amount.

The redemptions will be funded using proceeds from an offering of senior secured notes due 2029, together with cash on hand. The redemptions are conditioned on completion of the new financing.

The Bank of New York Mellon, London Branch is the trustee for the 5% notes, and Wilmington Trust, NA is trustee for the floating-rate notes. Bank of New York Mellon, London Branch is the paying agent for both notes.

The Lake Forest, Ill.-based company manufactures vehicle parts for the original equipment markets and aftermarket.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.