SUNNY
ISLES BEACH, Fla., May 28, 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"), consummated their offering of
$750,000,000 aggregate principal
amount of 9.000% Senior Unsecured Notes due 2030 (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 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 to
redeem the Issuers' existing 6.375% Senior Unsecured Notes due 2025
(the "2025 Notes") in full on June 13,
2024.
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 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.
