TEN - Tenneco dips on report buyout financing delayed until after U.S. Labor Day
- Tenneco ( NYSE: TEN ) ticked down 0.2% on a report that banks have delayed the $5.4 billion financing for a buyout of the autopart supplier.
- A group of banks led by Citigroup and Bank of America postponed the start of leveraged loan and high-yield bond offerings until after the U.S. Labor Day holiday in September, according to traders, who cited a Bloomberg report.
- The latest news on financing comes after Bloomberg report Wednesday that $15 billion debt sale for the acquisition of Citrix Systems ( CTXS ) has also been delayed until after the U.S. Labor Day holiday.
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Tenneco dips on report buyout financing delayed until after U.S. Labor Day