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TENNECO INC. COMPLETES EQUITY OFFERING

 HOUSTON, April 28 /PRNewswire/ -- As announced earlier today, Tenneco Inc. (NYSE: TGT) has completed its equity offering of 23.5 million shares for $1.09 billion. Tenneco said a portion of the proceeds will be used by its subsidiary Tennessee Gas Pipeline Company to redeem five publicly held Debentures:
 -- 11-1/8 percent Debentures due 2013 at 105.13 percent
 -- 10-1/4 percent Debentures due 2016 at 105.77 percent
 -- 9-3/8 percent Debentures due 2017 at 106.56 percent
 -- 8-7/8 percent Debentures due 2003 at 102.16 percent
 -- 8-3/8 percent Debentures due 2002 at 101.63 percent
 Call notices for the debentures were sent today, April 28, 1993. The redemption date for all the issues is May 28, 1993. Tennessee Gas Pipeline Company will also pay accrued interest on the issues from the last payment date of each issue to the redemption date.
 The redemption agent for the debentures is The Chase Manhattan Bank, N.A., and the debentures may be redeemed at the office of The Chase Manhattan Bank, N.A., Institutional Trust Group Window, 1 Chase Manhattan Plaza, Floor 1-B, New York, New York 10081.
 In addition, some of the proceeds will be used to redeem privately held Tennessee Gas Pipeline 8-5/8 percent notes due 1998.
 Tenneco Inc. is a Houston based diversified industrial corporation with major business interests in natural gas pipelines (Tenneco Gas), farm and construction equipment (Case), automotive parts (Tenneco Automotive), shipbuilding (Newport News Shipbuilding), packaging (Packaging Corporation of America) and chemicals (Albright & Wilson).
 -0- 4/28/93
 /CONTACT: Christine LeLaurin of Tenneco, Inc., 713-757-2761/
 (TGT)


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

LD -- NY107 -- 2255 04/28/93 16:28 EDT
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Publication:PR Newswire
Date:Apr 28, 1993
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