SUNNY ISLES BEACH,
Fla., Dec. 19, 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"), consummated their offering of (i) $500,000,000 aggregate principal amount of 9.750%
Senior Notes due 2029 (the "Initial Notes") in a private placement
not registered under the Securities Act of 1933, as amended (the
"Securities Act") (such offering, the "Initial Notes Offering") and
(ii) $200,000,000 aggregate principal
amount of additional 9.750% Senior Notes due 2029 (the "Additional
Notes," and, together with the Initial Notes, the "Notes") in a
private placement not registered under the Securities Act (such
offering, the "Additional Notes Offering," and, together with the
Initial Notes Offering, the "Notes Offering"). The Notes were
issued under an indenture, dated as of the date hereof, by and
among the Issuers, Icahn Enterprises Holdings L.P., as guarantor
(the "Guarantor"), and Wilmington Trust, National Association, as
trustee, and are guaranteed by the Guarantor. The net proceeds from
the Notes Offering will be used, together with cash on hand, to
redeem the Issuers' existing 4.75% Senior Unsecured Notes due 2024
(the "2024 Notes") in full on or around June
15, 2024. The 2024 Notes have been satisfied and discharged
simultaneously with the closing of the Notes Offering.
The Notes and related guarantees were made 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.
