-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, BPsip7OanxIyeR+WOcCn6KiSzG6RjmoNyn+qL63pOcZgDc28LZ/Lm2uWY7cRPJuT sKlMgvaO5IzpMyL4sA8ymg== 0000950124-07-005498.txt : 20071101 0000950124-07-005498.hdr.sgml : 20071101 20071101083645 ACCESSION NUMBER: 0000950124-07-005498 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20071101 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20071101 DATE AS OF CHANGE: 20071101 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TENNECO INC CENTRAL INDEX KEY: 0001024725 STANDARD INDUSTRIAL CLASSIFICATION: MOTOR VEHICLE PARTS & ACCESSORIES [3714] IRS NUMBER: 760515284 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-12387 FILM NUMBER: 071204739 BUSINESS ADDRESS: STREET 1: 500 NORTH FIELD DRIVE CITY: LAKE FOREST STATE: IL ZIP: 60045 BUSINESS PHONE: 847-482-50 MAIL ADDRESS: STREET 1: 500 N FIELD DR STREET 2: ROOM T 2560B CITY: LAKE FOREST STATE: IL ZIP: 60045 FORMER COMPANY: FORMER CONFORMED NAME: TENNECO AUTOMOTIVE INC DATE OF NAME CHANGE: 19991112 FORMER COMPANY: FORMER CONFORMED NAME: NEW TENNECO INC DATE OF NAME CHANGE: 19961011 8-K 1 c21155e8vk.txt CURRENT REPORT UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ---------------------------------- FORM 8-K Current Report Pursuant To Section 13 or 15(d) of the Securities Exchange Act of 1934 ---------------------------------- Date of Report (Date of earliest event reported): November 1, 2007 TENNECO INC. (Exact Name of Registrant as Specified in Charter) Delaware 1-12387 76-0515284 (State or other jurisdiction of (Commission File Number) (I.R.S. Employer incorporation or organization) Identification No.) 500 NORTH FIELD DRIVE, LAKE FOREST, ILLINOIS 60045 (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (847) 482-5000 Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) ITEM 8.01. OTHER EVENTS. On November 1, 2007, Tenneco announced that it was commencing an offer to purchase up to $230 million of its outstanding $475 million 10 1/4 percent senior secured notes due 2013. A copy of the press release announcing this offer is attached as Exhibit 99.1 and incorporated herein by reference. ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS. Exhibit No. Description - ----------- ----------- 99.1 Press release issued November 1, 2007. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. TENNECO INC. Date: November 1, 2007 By: /s/ David A. Wardell ------------------------ David A. Wardell Senior Vice President, General Counsel and Secretary EX-99.1 2 c21155exv99w1.txt PRESS RELEASE EXHIBIT 99.1 news release [TENNECO LOGO] Contacts: Jane Ostrander Leslie Hunziker Media Relations Investor Relations 847 482-5607 847 482-5042 jostrander@tenneco.com lhunziker@tenneco.com TENNECO INC. COMMENCES PARTIAL TENDER OFFER AND CONSENT SOLICITATION FOR ITS 10 1/4% SENIOR SECURED NOTES DUE 2013 Lake Forest, Illinois, November 1, 2007 -- Tenneco Inc. announced today that it has commenced a cash tender offer for up to $230,000,000 aggregate principal amount of 10 1/4% Senior Secured Notes due 2013 (CUSIP No. 880349AD7). Tenneco is launching this tender offer and consent solicitation as part of a transaction designed to reduce the company's interest expense, extend the maturity of some of its debt and to amend the indenture for the Notes to more closely align debt covenants among the company's various tranches of notes. The total consideration per $1,000 principal amount of Notes validly tendered and not withdrawn prior to 5:00 p.m., New York City time, on November 15, 2007, unless extended (the "Consent Date"), will be calculated based on the present value on the payment date of the sum of $1,051.25 (the earliest redemption price for the Notes on June 15, 2008, which is the earliest redemption date for the Notes), plus interest payments through June 15, 2008, determined using a discount factor equal to the yield on the price determination date of the 5 1/8% U.S. Treasury Note due June 30, 2008, plus a fixed spread of 50 basis points. The price determination date will be 2:00 p.m., New York City time, at least ten business days prior to the expiration date. The payment date will be promptly after the expiration date. The tender offer is scheduled to expire at midnight, New York City time, on November 30, 2007, unless extended. Accrued and unpaid interest to, but not including, the payment date will be paid on all Notes tendered and accepted for payment. The tender offer is for a maximum of $230,000,000 aggregate principal amount of Notes (the "Maximum Tender Amount"). In the event that the tender offer is oversubscribed, tenders will be accepted on a pro rata basis. Tenneco reserves the right, but is not obligated, to increase the Maximum Tender Amount. The total consideration includes a consent payment of $30.00 per $1,000 principal amount of Notes. Only Notes that are tendered on or prior to the Consent Date and that are accepted for payment will receive the Consent Payment. -2- The Company is soliciting consents to conform certain covenants in the indenture governing the Notes to make them no more restrictive than comparable provisions applicable to the Company's 8.625% Senior Subordinated Notes due 2014, including with respect to the incurrence of indebtedness and the absence of limitation on issuances and transfers of restricted subsidiary stock, and to make other minor or related modifications. The tender offer is conditioned on the satisfaction or waiver prior to the acceptance date of customary conditions, including the following: (i) Tenneco having received from the offer and sale of new indebtedness, on terms and conditions acceptable to it in its sole discretion, funds sufficient to consummate the offer; and (ii) the receipt of the requisite consents required to implement the proposed amendments to the indenture from holders of the senior secured notes. The complete terms and conditions of the tender offer and consent solicitation are described in the Offer to Purchase and Consent Solicitation Statement of the Company dated November 1, 2007, copies of which may be obtained by contacting Global Bondholder Services Corporation, the information agent for the offer, at (212) 430-3774 (collect) or (866) 873-5600 (U.S. toll-free). Banc of America Securities LLC and Citi are the dealer managers and solicitation agents for the tender offer and consent solicitation. Additional information concerning the tender offer and consent solicitation may be obtained by contacting Banc of America Securities LLC, High Yield Special Products, at (704) 388-4813 (collect) or (888) 292-0070 (U.S. toll-free) and Citi at (212) 723-6106 (collect) or (800) 558-3745 (toll-free). This press release does not constitute an offer to sell or a solicitation of an offer to buy any Notes or other securities, nor shall there be any sale of any Notes or other securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This announcement is also not an offer to purchase, a solicitation of an offer to purchase or a solicitation of consents with respect to any Notes or other securities. The tender offer and consent solicitation are being made solely by the Offer to Purchase and Consent Solicitation Statement dated November 1, 2007. COMPANY INFORMATION AND FORWARD LOOKING STATEMENTS Tenneco is a $4.7 billion manufacturing company with headquarters in Lake Forest, Illinois and approximately 19,000 employees worldwide. Tenneco is one of the world's largest designers, manufacturers and marketers of emission control and ride control products and systems for the automotive original equipment market and the -3- aftermarket. Tenneco markets its products principally under Monroe(R), Walker(R), Gillet(TM), and CleviteElastomer brand names. The disclosures herein include statements that are 'forward looking' within the meaning of federal securities law concerning Tenneco's offer and consent solicitation. These forward-looking statements generally can be identified by phrases such as "will," "conditioned" or other words or phrases of similar import. The company's ability to complete the transaction is subject to market conditions and other risks and uncertainties that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. ### -----END PRIVACY-ENHANCED MESSAGE-----