SUNNY
ISLES BEACH, Fla., May 13, 2024
/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"), intends to commence an offering of
$500,000,000 aggregate principal
amount of Senior Unsecured Notes due 2030 (the "Notes") for
issuance in a private placement not registered under the Securities
Act of 1933, as amended (the "Securities Act"). 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 offering
will be used, together with cash on hand, to partially redeem the
Issuers' existing 6.375% Senior Unsecured Notes due 2025. 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 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 ongoing 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, 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 general partner and controlling unitholder; pledges of our
units by our controlling unitholder; 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 potential strategic transactions involving our Energy
segment; 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.
