Tsakos Energy Stock Price, News & Analysis

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.

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.