Icahn Enterprises L.P. Intends to Offer New Senior Notes
November 30 2017 - 10:31AM
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 $1.26 billion in
aggregate principal amount of additional 6.250% Senior Notes due
2022 (the “2022 Notes”), additional 6.750% Senior Notes due 2024
(the “2024 Notes) and new Senior Notes due 2025 (the “2025 Notes”
and, together with the 2022 Notes and 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 2022
Notes and 2024 Notes will be issued under the indenture dated as of
January 18, 2017 by and among the Issuers, Icahn Enterprises
Holdings L.P., as guarantor, and Wilmington Trust, National
Association, as trustee. The 2025 Notes will be issued under an
indenture to be dated the issue date of the 2025 Notes by and among
the Issuers, Icahn Enterprises Holdings L.P., as guarantor, and
Wilmington Trust, National Association, as trustee. The Notes will
be guaranteed by Icahn Enterprises Holdings L.P. The proceeds from
the Notes offering will be used to redeem all of the Issuers’
existing 4.875% Senior Notes due 2019 and pay related fees and
expenses. There can be no assurance that the issuance and sale of
any debt securities of the Issuers or the redemption of the
Issuers’ 4.875% Senior Notes due 2019 will be consummated.
The Notes and related guarantee 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 guarantee 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
ten primary business segments: Investment, Automotive, Energy,
Metals, Railcar, Gaming, Mining, Food Packaging, 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 L.P.
and its subsidiaries. Among these risks and uncertainties are 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 funds we
manage, losses in the funds and loss of key employees; risks
related to our automotive activities, including exposure to adverse
conditions in the automotive industry, and risks related to
operations in foreign countries; 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; risk related to our gaming
operations, including reductions in discretionary spending due to a
downturn in the local, regional or national economy, intense
competition in the gaming industry from present and emerging
internet online markets and extensive regulation; risks related to
our railcar activities, including reliance upon a small number of
customers that represent a large percentage of revenues and
backlog, the health of and prospects for the overall railcar
industry and the cyclical nature of the railcar manufacturing
business; risks related to our mining operations, including the
volatility of the global price of iron ore and global demand levels
for iron ore; risks related to our food packaging activities,
including competition from better capitalized competitors,
inability of its 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 necessarily 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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