SUNNY
ISLES BEACH, Fla., Dec. 15,
2023 /PRNewswire/ -- 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
$200,000,000 aggregate principal
amount of additional 9.750% 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 $50,000,000 from the previously announced
offering of $150,000,000, and the
Notes will be issued at an issue price of 100.625%. The Notes
Offering is expected to close on December
19, 2023, subject to customary closing conditions. The Notes
will be issued under the indenture to be entered into on
December 19, 2023, by and among the
Issuers, Icahn Enterprises Holdings L.P., as guarantor (the
"Guarantor"), and Wilmington Trust, National Association, as
trustee, in connection with the closing of the $500,000,000 aggregate principal amount of 9.750%
senior notes offering announced by Icahn Enterprises on
December 12, 2023 (the "Original
Offering"), and will be guaranteed by the Guarantor. The net
proceeds from the Notes Offering will be used, together with cash
on hand and the net proceeds from the Original Offering, to redeem
the Issuers' existing 4.75% Senior Unsecured Notes due 2024 in
full. There can be no assurance that the issuance and sale of any
debt securities 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 owning subsidiaries
currently engaged in the following continuing operating businesses:
Investment, Energy, Automotive, Food Packaging, Real Estate,
Home Fashion and Pharma.
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; the impacts from the Russia/Ukraine conflict and conflict in the
Middle East, including economic
volatility and the impacts of export controls and other economic
sanctions; 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, or to
be taxed as a corporation; risks related to short sellers and
associated litigation and regulatory inquiries; 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, 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 and the
Chapter 11 filing of our automotive parts subsidiary; 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; supply chain issues;
inflation, including increased costs of raw materials and shipping,
including as a result of the Russia/Ukraine conflict and conflict in the
Middle East; interest rate
increases; labor shortages and workforce availability; 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, manufacturing disruptions, 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 including our Annual Report on
Form 10-K and our quarterly reports on Form 10-Q under the caption
"Risk Factors". 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.
Investor Contact:
Ted
Papapostolou, Chief Financial Officer
IR@ielp.com
(800) 255-2737
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SOURCE Icahn Enterprises L.P.
