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"), intends to commence an offering of additional 9.750%
Senior Notes due 2029 (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 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 offering will be used, together with cash on
hand and the net proceeds of 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 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 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.