Icahn Enterprises L.P. Announces Upsizing and Pricing of Senior Notes
January 04 2021 - 5:26PM
Icahn Enterprises L.P. (NASDAQ: IEP) – Icahn Enterprises L.P.
(“Icahn Enterprises”) announced today that it, together with Icahn
Enterprises Finance Corp. (together with Icahn Enterprises, the
“Issuers”), priced their offering of $750,000,000 aggregate
principal amount of 4.375% Senior Notes due 2029 (the “Notes”) in a
private placement not registered under the Securities Act of 1933,
as amended (the “Securities Act”) (such offering, the “Notes
Offering”). The aggregate principal amount represents an increase
in the size of the Notes Offering of $250,000,000 from the
previously announced offering of $500,000,000. The Notes Offering
is expected to close on January 19, 2021, subject to customary
closing conditions. The Notes will be issued under an indenture by
and among the Issuers, Icahn Enterprises Holdings L.P., as
guarantor (the “Guarantor”), and Wilmington Trust, National
Association, as trustee, and will be guaranteed by the Guarantor.
The net proceeds from the Notes Offering will be used to redeem a
portion of the Issuers’ existing 6.250% Senior Notes due 2022
pursuant to the Issuers’ previously announced notice of conditional
redemption. There can be no assurance that the issuance and sale of
any debt securities will be consummated, that the conditions
precedent to the redemption will be satisfied, or that the
redemption will occur.
The Notes and related guarantees are being
offered only (1) in the United States to persons reasonably
believed to be qualified institutional buyers in reliance on Rule
144A under the Securities Act and (2) outside the United States to
persons other than “U.S. persons” in compliance with Regulation S
under the Securities Act. The Notes and related guarantees have not
been registered under the Securities Act or the securities laws of
any other jurisdiction and may not be offered or sold in the United
States absent registration or an applicable exemption from the
registration requirements.
This press release is being issued pursuant to
and in accordance with Rule 135c under the Securities Act. This
press release shall not constitute an offer to sell or a
solicitation of an offer to buy any securities of the Issuers.
About Icahn Enterprises
L.P.
Icahn Enterprises L.P. (NASDAQ: IEP), a master
limited partnership, is a diversified holding company engaged in
seven primary business segments: Investment, Energy, Automotive,
Food Packaging, Metals, Real Estate and Home Fashion.
Caution Concerning Forward-Looking
Statements
This release contains certain statements that
are, or may deemed to be, "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995,
many of which are beyond our ability to control or predict.
Forward-looking statements may be identified by words such as
"expects," "anticipates," "intends," "plans," "believes," "seeks,"
"estimates," "will" or words of similar meaning and include, but
are not limited to, statements about the expected future business
and financial performance of Icahn Enterprises and its
subsidiaries. Actual events, results and outcomes may differ
materially from our expectations due to a variety of known and
unknown risks, uncertainties and other factors, including risks
related to economic downturns, substantial competition and rising
operating costs; risks related to the severity, magnitude and
duration of the COVID-19 pandemic and its impact on the global
economy, financial markets and industries in which our subsidiaries
operate; risks related to our investment activities, including the
nature of the investments made by the private funds in which we
invest, declines in the fair value of our investments as a result
of the COVID-19 pandemic, losses in the private funds and loss of
key employees; risks related to our ability to continue to conduct
our activities in a manner so as to not be deemed an investment
company under the Investment Company Act of 1940, as amended; risks
related to our energy business, including the volatility and
availability of crude oil, other feed stocks and refined products,
declines in global demand for crude oil, refined products and
liquid transportation fuels as a result of the COVID-19 pandemic,
unfavorable refining margin (crack spread), interrupted access to
pipelines, significant fluctuations in nitrogen fertilizer demand
in the agricultural industry and seasonality of results; risks
related to our automotive activities and exposure to adverse
conditions in the automotive industry, including as a result of the
COVID-19 pandemic; risks related to our food packaging activities,
including competition from better capitalized competitors,
inability of our suppliers to timely deliver raw materials, and the
failure to effectively respond to industry changes in casings
technology; risks related to our scrap metals activities, including
potential environmental exposure; risks related to our real estate
activities, including the extent of any tenant bankruptcies and
insolvencies; risks related to our home fashion operations,
including changes in the availability and price of raw materials,
and changes in transportation costs and delivery times; and other
risks and uncertainties detailed from time to time in our filings
with the Securities and Exchange Commission. Additionally, there
may be other factors not presently known to us or which we
currently consider to be immaterial that may cause our actual
results to differ materially from the forward-looking statements.
Past performance in our Investment segment is not indicative of
future performance. We undertake no obligation to publicly update
or review any forward-looking information, whether as a result of
new information, future developments or otherwise.
Contact:Investor Contact:SungHwan ChoChief
Financial Officer(305) 422-4100
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