Tenneco Inc. Announces Public Offering of Common Stock
November 17 2009 - 4:15PM
Business Wire
Tenneco Inc. (NYSE:TEN) today announced its intention to offer
10,000,000 shares of its common stock pursuant to an underwritten
registered public offering. In connection with the offering,
Tenneco intends to grant the underwriters a 30-day option to
purchase up to an additional 1,500,000 shares of its common stock
to cover over-allotments, if any.
The offering will be made under an effective shelf registration
statement. J.P. Morgan Securities Inc., BofA Merrill Lynch, and
Deutsche Bank Securities Inc. are acting as joint book-running
managers of the offering.
Tenneco intends to use the net proceeds from the offering to
repay outstanding borrowings under its revolving credit facility
(without reducing the commitments under the revolving credit
facility) and for general corporate purposes.
A preliminary prospectus supplement relating to the offering
will be filed with the Securities and Exchange Commission (SEC).
When available, copies of the preliminary prospectus supplement and
the accompanying prospectus relating to the offering may be
obtained from the SEC, including from its website at
http://www.sec.gov; or from the offices of J.P. Morgan Securities
Inc., Attention: Broadridge Financial Solutions, 1155 Long Island
Ave, Edgewood, NY 11717 (631-254-1735); or BofA Merrill Lynch, 4
World Financial Center, New York, NY 10080, Attention: Preliminary
Prospectus Department or email Prospectus.Requests@ml.com; or
Deutsche Bank Securities Inc., Attention: Prospectus Department,
100 Plaza One, Jersey City, New Jersey 07311, Telephone: (800)
503-4611.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities nor shall there be
any sale of these securities in any state in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such state. The offering
of these securities will be made only by means of the prospectus
supplement and accompanying prospectus.
About Tenneco
Tenneco is a $5.9 billion global manufacturing company with
headquarters in Lake Forest, Illinois and approximately 21,000
employees worldwide. Tenneco is one of the world’s largest
designers, manufacturers and marketers of emission control and ride
control products and systems for the automotive original equipment
market and the aftermarket. Tenneco markets its products
principally under the Monroe ® , Walker ® , Gillet™ and Clevite ®
Elastomer brand names.
The disclosures herein include statements that are "forward
looking" within the meaning of federal securities law concerning
Tenneco's proposed offering. The terms of, and Tenneco's ability to
complete, such transaction will depend upon prevailing market
conditions and other factors. The forward-looking statements are
subject to these and other risks and uncertainties that could cause
actual results to differ materially from future results expressed
or implied by such forward-looking statements.
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