TENNECO ANNOUNCES EXTENSION OF REDEMPTION DATE FOR 5⅜% SENIOR NOTES DUE 2024 AND 5.0% SENIOR NOTES DUE 2026

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Tenneco Inc. has announced an extension of the redemption date for its 5⅜% Senior Notes due 2024 and 5.0% Senior Notes due 2026 from November 7, 2022, to November 14, 2022. The redemption price for the 2024 Notes is set at 100.896% of the principal, plus accrued interest, with an outstanding amount of $225 million. For the 2026 Notes, valued at $500 million, the redemption price is 101.667% of the principal, plus accrued interest. All other terms remain unchanged as specified in the Notice of Redemption dated October 6, 2022.

SKOKIE, Ill., Nov. 4, 2022 /PRNewswire/ -- Tenneco Inc. (NYSE: TEN) ("Tenneco") today announced that it has extended the redemption date for its previously announced full redemption of all of its outstanding 5⅜% Senior Notes due 2024 (the "2024 Notes") and all of its outstanding 5.0% Senior Notes due 2026 (the "2026 Notes" and, together with the 2024 Notes, the "Notes") from the originally scheduled date on November 7, 2022 to November 14, 2022, subject to being further extended or rescinded if the conditions set forth in Tenneco's New Conditional Notice of Redemption issued on October 6, 2022 (the "Notice of Redemption") have not been satisfied or waived by such date.  

The aggregate principal amount outstanding of the 2024 Notes is $225,000,000. The redemption price for the 2024 Notes will be equal to 100.896% of the principal amount thereof, plus accrued and unpaid interest on such Notes from June 15, 2022 (the most recent interest payment date) to, but excluding, the redemption date. 

The aggregate principal amount outstanding of the 2026 Notes is $500,000,000. The redemption price for the 2026 Notes will be equal to 101.667% of the principal amount thereof, plus accrued and unpaid interest on such Notes from July 15, 2022 (the most recent interest payment date) to, but excluding, the redemption date.

Except for the extension of the redemption date, all other terms and conditions of the redemption for the for the Notes set forth in the Notice of Redemption remain in full force and effect.

About Tenneco

Tenneco is one of the world's leading designers, manufacturers, and marketers of automotive products for original equipment and aftermarket customers, with full year 2021 revenues of $18 billion and approximately 71,000 team members working at more than 260 sites worldwide.  Through our four business groups, Motorparts, Performance Solutions, Clean Air and Powertrain, Tenneco is driving advancements in global mobility by delivering technology solutions for diversified global markets, including light vehicle, commercial truck, off-highway, industrial, motorsport and the aftermarket.

Investor inquiries

Linae Golla
847 482-5162
lgolla@tenneco.com 

Rich Kwas
248 849-1340
rich.kwas@tenneco.com 

Media inquiries

Bill Dawson
847 482-5807
bdawson@tenneco.com 

 

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SOURCE Tenneco Inc.

FAQ

What is the new redemption date for Tenneco's Senior Notes?

The new redemption date for Tenneco's Senior Notes is November 14, 2022.

What is the outstanding amount of Tenneco's 2024 Senior Notes?

The outstanding amount of Tenneco's 2024 Senior Notes is $225 million.

What will be the redemption price for Tenneco's 2026 Senior Notes?

The redemption price for Tenneco's 2026 Senior Notes will be 101.667% of the principal amount, plus accrued interest.

When was the original redemption date for Tenneco's Senior Notes?

The original redemption date for Tenneco's Senior Notes was November 7, 2022.

What conditions must be met for the redemption of Tenneco's Senior Notes?

The redemption is subject to the conditions set forth in Tenneco's Conditional Notice of Redemption issued on October 6, 2022.