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CASE EQUIPMENT LOAN TRUST OFFERS $461 MILLION OF ASSET-BACKED SECURITIES

 HOUSTON, Nov. 5 /PRNewswire/ -- Tenneco Inc. (NYSE: TGT) today announced the offering of $461 million of asset-backed securities through an owner trust established by Case Receivables Inc., a subsidiary of Case Corporation, the company's farm and construction equipment unit.
 The issue consists of $442.3 million of 4.30 percent notes and $18.4 million of 5.10 percent certificates. J.P. Morgan Securities Inc. is the lead underwriter with CS First Boston, Merrill Lynch & Co. and UBS Securities Inc.
 The notes are secured by fixed-rate farm and construction equipment retail installment sale contracts. The proceeds will be used by Tenneco Credit Corporation toward repayment of its short-term borrowings, which will reduce the company's overall consolidated debt.
 The offering announced today follows similar transactions for $421 million of asset backed securities in May 1993 and $552 million in December 1992.
 Tenneco Inc. is a Houston-based diversified industrial corporation with major business interests in natural gas transportation and marketing (Tenneco Gas), farm and construction equipment (Case Corporation), automotive parts (Tenneco Automotive), ship design, construction and repair (Newport News Shipbuilding), packaging (Packaging Corporation) and chemicals (Albright & Wilson).
 -0- 11/5/93
 /CONTACT: Christine LeLaurin of Tenneco Inc., 713-757-2761/
 (TGT)


CO: Tenneco Inc. ST: Texas IN: SU: OFR

CK -- NY063 -- 1351 11/05/93 16:14 EST
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Publication:PR Newswire
Date:Nov 5, 1993
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