Hints and tips:
...The capital raising for the $7.1bn Tenneco deal, which was agreed in February, has been a thorn in the side of the banks for months now....
...Banks have been unable to sell debt from several marquee leveraged buyouts, including Elon Musk’s $44bn takeover of Twitter and Apollo’s $7.1bn purchase of auto parts maker Tenneco....
...And of the deals they know banks could still bring — including the hung financings backing buyouts of Tenneco and Brightspeed — Citrix looks like a better bet, some investors said....
...And banks still hold vastly more debt from financial packages backing buyouts of television ratings group Nielsen, TV broadcaster Tegna, car parts maker Tenneco and — if completed — Elon Musk’s $44bn takeover...
...Post-merger, Tenneco plans to split the two units contained within both Tenneco and Federal-Mogul into their own listed businesses. Each has a unit that builds part of an auto’s power train....
...Prior to this, she had done a long stint in executive roles at Tenneco Packaging....
...After 17 years at Tenneco Packaging, a folding-carton business, she stayed in the industry, moving to Pechiney in 1999, becoming the first president of its plastics company and then senior vice-president...
...Other big auto parts makers whose second-quarter results have far exceeded analysts’ estimates include Tenneco, Borg Warner, TRW, Dana and American Axle, all based in the US, and Europe’s Valeo....
...funding for new vehicle technology programmes under a $25bn soft loan facility administered by the Department of Energy, under which GM’s competitors Ford Motor, Nissan, Tesla Motors, Fisker Automotive and Tenneco...
...For example, the shares of the US’s Tenneco, American Axle and TRW, which were priced for bankruptcy a year ago, have bounded ahead....
...Wells Fargo raised Tenneco, the world’s largest maker of vehicle exhausts, to “outperform” from “market perform”, sending its shares 2.5 per cent higher to $20.76....
...S&P said that it was also reviewing the ratings of American Axle, Lear and Tenneco, but that it was unlikely to downgrade the four companies’ ratings for several more weeks....
...This week, Hertz appointed Mark Frissora, the former chief executive of Tenneco, a car parts supplier, to become chief executive. He will take up the role on Wednesday....
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