Lake Forest, Ill, November 18, 2009 — Tenneco Inc. (NYSE:TEN) today announced that the public offering of 12,000,000 shares of its common stock has priced at $16.50 per share. The offering includes a 30-day option for the underwriters to purchase up to an additional 1,800,000 shares of its common stock to cover over-allotments, if any.

 

Tenneco expects to receive $187 million in net proceeds from the sale of its common stock, plus any proceeds received from the exercise by the underwriters of their over-allotment option. Tenneco intends to 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. The closing of the offering is expected to occur on November 24, 2009, subject to customary closing conditions.

 

J.P. Morgan Securities Inc., BofA Merrill Lynch, and Deutsche Bank Securities Inc. are acting as joint book-running managers of the offering. The offering is being made pursuant to an effective shelf registration statement that was previously filed with the Securities and Exchange Commission (SEC).

 

Before you invest, you should read the prospectus in the registration statement, the prospectus supplement and other documents Tenneco has filed with the SEC for more complete information about Tenneco and the offering.

 

Copies of the final prospectus supplement and the accompanying prospectus relating to the offering will be 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. The offering of these securities will be made only by means of the prospectus supplement and the 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 offering. 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.

 

 

CONTACT:
Jane Ostrander
Investor inquiries
847 482 5607
jostrander@tenneco.com

Jim Spangler
Media inquiries
847 482 5810
jspangler@tenneco.com