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Article: Tenneco Automotive Commences Offering of $300,000,000 in Plan to Repay Certain Amounts Under Senior Credit Facility.
- Article from:
- PR Newswire
- Article date:
- May 30, 2003
CopyrightCOPYRIGHT 2003 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Tenneco Automotive Inc. today said it had commenced an offering of $300,000,000 of Senior Secured Notes. Tenneco Automotive plans to use the net proceeds of the offering to prepay certain term loans under, and a portion of the outstanding balance of the revolving credit portion of, the Company's existing senior secured credit facility. The offering is subject to market and other conditions.
The notes will be senior secured obligations of Tenneco Automotive and will mature in 2013 with interest payable semi-annually. The notes will be guaranteed by each of Tenneco Automotive's material domestic wholly-owned subsidiaries. The notes and guarantees will be ...