Tenneco Inc. Completes Public Offering, Raising Approximately $187 Million in Net Proceeds
November 24 2009 - 1:01PM
Business Wire
Tenneco Inc. (NYSE:TEN) today announced that it successfully
completed the previously announced public offering of 12,000,000
shares of its common stock at a price of $16.50 per share.
Tenneco received $198 million in gross proceeds and
approximately $187 million in net proceeds, after expenses, from
the sale of its common stock. Tenneco will use the proceeds to
repay outstanding borrowings under its revolving credit facility
(without reducing the commitments under the revolving credit
facility) and for general corporate purposes.
J.P. Morgan Securities Inc., BofA Merrill Lynch, and Deutsche
Bank Securities Inc. acted as joint book-running managers of the
offering. The offering was made pursuant to an effective shelf
registration statement that was previously filed with the
Securities and Exchange Commission (SEC).
Copies of the final prospectus supplement and the accompanying
prospectus relating to the offering are available 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; or
BofA Merrill Lynch, 4 World Financial Center, New York, NY 10080,
Attention: Prospectus Department or email
Prospectus.Requests@ml.com; or Deutsche Bank Securities Inc.,
Attention: Prospectus Department, 100 Plaza One, Jersey City, New
Jersey 07311.
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.
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.
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