BB&T Serves as Co-Manager for Tenneco’s $500,000,000 5.00% Senior Notes due 2026
On June 6, 2016, BB&T Capital Markets served as a co-manager for a $500,000,000 offering of senior notes by Tenneco Inc. Proceeds from the offering were used to purchase any and all of Tenneco’s outstanding $500 million 6 7⁄8% senior notes tendered in the tender offer and to redeem any of such 6 7⁄8% senior notes that are not tendered at a redemption price of 103.438% per $1,000 principal amount of 6 7⁄8% senior notes and to pay fees, premiums, expenses and unpaid and accrued interest related to the tender offer or redemption.
About the Companies
Tenneco is one of the world’s leading manufacturers of clean air and ride performance products and systems for light vehicle, commercial truck and off-highway applications. Tenneco serves both original equipment (OE) vehicle designers and manufacturers and the repair and replacement markets, or aftermarket, globally through leading brands, including Monroe®, Rancho®, Clevite® Elastomers, Axios™, Kinetic® and Fric-Rot™ ride performance products and Walker®, XNOx®, Fonos™, DynoMax® and Thrush® clean air products. Tenneco serves more than 80 different original equipment manufacturers and commercial truck and off-highway engine manufacturers, and its products are included on nine of the top 10 car models produced for sale in Europe and eight of the top 10 light truck models produced for sale in North America for 2015. Tenneco’s aftermarket customers are comprised of full-line and specialty warehouse distributors, retailers, jobbers, installer chains and car dealers. As of December 31, 2015, Tenneco operated 93 manufacturing facilities worldwide and employed approximately 30,000 people to service its customers’ demands.
Tenneco was incorporated in the state of Delaware in 1996. Its principal executive offices are located in Lake Forest, Illinois.
BB&T Capital Markets is the leading investment bank to the automotive aftermarket. We provide unparalleled industry expertise and transaction execution throughout the entire aftermarket channel - from suppliers and distributors to retailers and professional installers - in every segment of the $300 billion industry.
About BB&T Capital Markets
BB&T Capital Markets offers an integrated platform of equity and debt underwriting, M&A advisory, corporate banking, and sales and trading. Headquartered in Richmond, VA, with offices throughout the US, we have specific expertise within 10 distinct industry verticals including Automotive Aftermarket; Commercial & Industrial; Education; Energy; Financial Services; Food & Agribusiness; Healthcare; Logistics & Transportation Services; Real Estate; and Retail & Consumer. Our commitment to industry expertise, combined with our resources as one of the nation's strongest financial institutions, strategically positions BB&T Capital Markets to build lasting relationships and contribute measurably to the long-term success of our clients.