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Tsakos Energy Navigation Ltd. reports developments tied to its international seaborne transportation of crude oil, petroleum products and LNG. The company operates as a diversified tanker owner and operator, with news commonly addressing fleet employment, charter extensions, vessel deliveries, tanker-rate conditions, contracted revenue and operating results.
Company updates also include quarterly and annual earnings releases, Form 20-F filing announcements, and cash dividends on its Series E and Series F preferred shares. Recurring coverage reflects TEN's role in liquid energy shipping, including crude tankers, product tankers, LNG carriers and DP2 shuttle tankers serving oil companies, refiners and energy customers.
Tenneco Inc. (NYSE: TEN) has successfully completed an $800 million offering of 5.125% Senior Secured Notes due 2029. These notes are backed by Tenneco's subsidiaries and secured by first priority interests in the majority of Tenneco's assets. The funds will be used to redeem outstanding 5.000% Senior Secured Notes and Floating Rate Senior Secured Notes due 2024, with the redemption scheduled for April 2, 2021. The notes were sold under Rule 144A and Regulation S, catering specifically to institutional buyers and non-U.S. persons.
Tenneco Inc. (NYSE: TEN) has announced pricing for its notes offering, issuing $800 million of 5.125% Senior Secured Notes due 2029. Closing is expected on March 17, 2021. These notes will be secured by assets from Tenneco and its subsidiaries and are meant to redeem the outstanding 5.000% Senior Secured Notes and Floating Rate Senior Secured Notes due 2024. The offering is exclusively for qualified institutional buyers and non-U.S. persons, adhering to federal securities laws. Tenneco reported $15.4 billion in revenues for 2020.
Tenneco Inc. (NYSE: TEN) announced plans to redeem its outstanding 5.000% Senior Secured Notes and Floating Rate Senior Secured Notes due 2024 on April 2, 2021. The 2024 Secured Notes totaling €350 million will be redeemed at 102.500% of the principal amount, totaling €1,035.6944 per €1,000. The 2024 FR Secured Notes amounting to €300 million will be redeemed at 100.000%, totaling €1,010.4271 per €1,000. The redemption is contingent upon completing a new notes offering due in 2029.
Tenneco Inc. (NYSE: TEN) announced plans to offer $800 million of Senior Secured Notes due 2029, subject to market conditions. These Notes will be guaranteed by Tenneco's subsidiaries and secured by a first priority security interest in substantially all of Tenneco's assets. Proceeds will be utilized to redeem existing Senior Secured Notes due 2024. The offering is targeted at institutional buyers and will not be registered under the Securities Act. Tenneco reported $15.4 billion in revenues for 2020, showcasing its position as a leading automotive products provider.
Tenneco (NYSE: TEN) will participate in the J.P. Morgan 2021 Global High Yield & Leveraged Finance Conference on March 3, 2021, at 9:15 a.m. Eastern. CEO Brian Kesseler and CFO Matti Masanovich will present a strategic overview and discuss matters affecting Tenneco's future outlook. The live webcast can be accessed via the Investors section of their website, with a replay available until April 3, 2021.
Tenneco generated $15.4 billion in revenues for 2020 and employs approximately 73,000 team members across more than 270 facilities worldwide.
Tenneco reported a strong fourth quarter 2020, with revenues hitting $4.7 billion, representing a 12% year-over-year increase. The company achieved a net income of $167 million, or $2.03 per diluted share. Fourth quarter EBIT rose to $260 million, an improvement of $404 million year-over-year. The company successfully reduced net debt by $460 million, finishing the year with $4.5 billion in net debt. Tenneco forecasts full-year 2021 revenue between $17.2 and $17.8 billion.
Tenneco will participate in the 2021 Wolfe Global Auto, Auto Tech, and Mobility Conference on February 25, 2021, starting at 1:05 p.m. Eastern. CEO Brian Kesseler, CFO Matti Masanovich, and COO Kevin Baird will provide a strategic overview and discuss factors influencing the company's outlook. The presentation will be accessible via the Investors section of Tenneco's website, with a replay available until March 25, 2021. Tenneco reported revenues of $17.5 billion in 2019 and operates in various automotive markets.
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.
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