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Tsakos Energy Navigation Ltd (TEN) provides essential seaborne transportation services for crude oil and petroleum products through flexible charter contracts. This news hub offers investors and industry professionals a centralized resource for tracking the company’s latest developments and market position.
Find timely updates on earnings reports, new charter agreements, fleet expansions, and strategic partnerships. Our curated collection ensures access to press releases and analysis covering TEN’s role in global energy logistics, including operational milestones and regulatory compliance achievements.
Key coverage areas: quarterly financial results, long-term contract signings, vessel acquisitions, and industry trend analyses. Bookmark this page to monitor how TEN navigates evolving energy markets through its diversified maritime services.
Tenneco Inc. announced the pricing of its offering of $500 million aggregate principal amount of 7.875% Senior Secured Notes, set to mature in 2029. The offering, which will close on November 30, 2020, is backed by guarantees from Tenneco's subsidiaries and secured by first-priority interests in nearly all assets. Proceeds will be utilized to redeem existing 4.875% Senior Secured Notes due 2022. The notes will only be offered to qualified institutional buyers and non-U.S. persons, in compliance with relevant securities laws.
Tenneco Inc. (NYSE: TEN) announced on November 13, 2020, its intention to redeem all outstanding 4.875% Senior Secured Notes due 2022, totaling €415 million, on December 14, 2020. The redemption price is set at 101.21875% of the principal, totaling €1,020.1771 per €1,000 of Notes. Funding for this redemption will come from a new offering of senior secured notes due 2029, contingent on its completion. Following the redemption date, interest on the Notes will cease, and all related rights will terminate except for the redemption payment.
Tenneco Inc. (NYSE: TEN) announced its intention to offer $500 million of Senior Secured Notes due 2029, subject to market conditions. The Notes will be guaranteed by Tenneco's subsidiaries and secured by first priority security interests in substantially all assets of Tenneco and its subsidiary guarantors. The net proceeds will be used to redeem outstanding 4.875% Senior Secured Notes due 2022. The offering is targeted towards qualified institutional buyers and non-U.S. persons outside the United States.
Tenneco's (NYSE: TEN) DRiV division announces dual sponsorships aimed at empowering women in the automotive industry and supporting Northwood University. A $35,000 donation will fund the Garage Gurus Scholarship Program, creating 12 scholarships for aspiring female technicians. Since 2004, Women in Auto Care has allocated over $560,000 in scholarships. Additionally, Tenneco pledged $50,000 to help Northwood University recover from a devastating flood. These initiatives reflect Tenneco's commitment to education and addressing technician shortages within the automotive sector.
Tenneco reported third-quarter results for 2020, with revenue of $4.3 billion, a 2% decline year-over-year, while value-add revenue decreased to $3.3 billion. The company faced a net loss of $499 million, or $(6.12) per share, significantly impacted by a $523 million non-cash tax charge. Adjusted net income stood at $27 million. Meanwhile, EBIT improved to $236 million, reflecting margin expansion. Tenneco's total debt decreased to $5.8 billion, and liquidity rose to $1.8 billion. Looking ahead, they anticipate stable value-add revenue and improved EBITDA margins.
Tenneco's Öhlins Racing has been selected to provide custom suspension dampers for the Lamborghini Essenza SCV12 hyper car, which will be limited to 40 units. This hyper car boasts over 830 horsepower and features advanced twin-tube damper technology for optimized track performance. Essenza SCV12 owners will receive exclusive access to premier racing circuits and services. Tenneco, a leader in automotive products, reported revenues of $17.5 billion in 2019 and operates in over 50 countries, focusing on innovation across multiple automotive sectors.
Tenneco will participate in the 2020 Barclays Global Automotive Conference on November 18, 2020. The virtual event begins at 11:30 a.m. Eastern, featuring CEO Brian Kesseler, CFO Matti Masanovich, and COO Kevin Baird, who will discuss the company's strategic outlook. Interested parties can access the live webcast via the Investors section of Tenneco's website, with a replay available until December 18. Tenneco is a leading automotive product manufacturer, reporting $17.5 billion in revenue for 2019.
Tenneco will participate in the Gabelli 44th Annual Automotive Symposium on November 3, 2020, with a live webcast starting at 11:00 a.m. Eastern. CEO Brian Kesseler and CFO Matti Masanovich will discuss Tenneco's strategic outlook. Interested investors can access the webcast via the company's investor page, with presentation slides available under 'Events & Presentations'. A replay of the event will be accessible until December 3, 2020. Tenneco reported revenues of $17.5 billion in 2019.
Tenneco is set to report its third quarter 2020 financial results on November 2, 2020, before market opening, followed by a webcast conference call at 10:00 a.m. ET. The call aims to discuss the financial outcomes and other relevant matters impacting the company's outlook. In 2019, Tenneco reported revenues of $17.5 billion and employs approximately 78,000 team members across over 300 sites globally in its four business segments: Motorparts, Ride Performance, Clean Air, and Powertrain.
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