Icahn Enterprises L.P. Intends to Offer New Senior Notes
January 06 2020 - 8:12AM
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”), intends to commence an offering of additional 4.750%
Senior Notes due 2024 (the “2024 Notes”) and additional 5.250%
Senior Notes due 2027 (the “2027 Notes” and, together with the 2024
Notes, the “Notes”) for issuance in a private placement not
registered under the Securities Act of 1933, as amended (the
“Securities Act”). The 2024 Notes will be issued under the
indenture dated as of September 6, 2019 and the 2027 Notes will be
issued under the indenture dated as of December 12, 2019, in each
case, 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 proceeds from the offering will be used for general limited
partnership purposes, including the redemption of the Issuers’
existing 5.875% senior unsecured notes due 2022. There can be no
assurance that the issuance and sale of any debt securities of the
Issuers will be consummated.
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 "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 our investment activities,
including the nature of the investments made by the private funds
which we manage, 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, 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, including exposure to adverse conditions
in the automotive industry; 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. 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(212) 702-4300
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