Tsakos Energy Stock Price, News & Analysis

Tenneco (NYSE: TEN) will report its fourth quarter and full year 2020 financial results on February 24, 2021, before market opening. A conference call to discuss these results is scheduled for 9:00 a.m. ET the same day. The call will include insights on the company's financial performance and future outlook. Tenneco, a leading automotive product manufacturer with $17.5 billion revenues in 2019, operates across four business groups: Motorparts, Ride Performance, Clean Air, and Powertrain.

Tenneco Inc. (NYSE: TEN) announced the appointment of Thomas J. Sabatino as executive vice president, general counsel, and corporate secretary, starting February 15, 2021. With nearly three decades of experience in corporate law, Sabatino's background includes senior roles at major corporations like Aetna and Hertz. His hiring comes after Brandon Smith accepted a new position elsewhere. CEO Brian Kesseler expressed confidence in Sabatino's ability to support the company’s long-term strategic goals.

Tenneco has successfully completed its offering of $500 million in 7.875% Senior Secured Notes due 2029. These notes are backed by guarantees from Tenneco's subsidiaries and secured by first priority interests in the company’s assets. The proceeds will be used to redeem all outstanding 4.875% Senior Secured Notes due 2022 on December 14, 2020. Notably, these notes are not registered under the Securities Act and were sold to qualified institutional buyers and non-U.S. persons. Tenneco reported $17.5 billion in revenue for 2019.

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.