Icahn Enterprises Announces $500 Million Senior Secured Notes Offering

On November 13, 2024, Icahn Enterprises L.P. filed a Form 8-K with the Securities and Exchange Commission to report its intention to commence an offering of $500,000,000 aggregate principal amount of Senior Secured Notes due 2029. The offering, undertaken by Icahn Enterprises and Icahn Enterprises Finance Corp., is not registered under the Securities Act of 1933.

The Senior Secured Notes are set to be issued under an indenture dated the issue date of the Notes by the Issuers, Icahn Enterprises Holdings L.P., as guarantor, and Wilmington Trust, National Association, as trustee and collateral agent. These Notes will be backed by most of the assets directly owned by the Issuers and the Guarantor, with customary exceptions in place. The net proceeds from this offering, in conjunction with available cash, will be utilized to partially redeem the existing 6.250% Senior Notes due 2026.

It is anticipated that an equal and ratable lien will be granted to holders of the existing 2026 Notes, along with the holders of 5.250% Senior Notes due 2027, 4.375% Senior Notes due 2029, 9.750% Senior Notes due 2029, and 9.000% Senior Notes due 2030 upon completion of the Notes Offering. However, the report points out that there is no guarantee regarding the consummation of the issuance and sale of the Issuers’ debt securities.

The offering falls under Rule 144A for certain qualified institutional buyers within the United States and complies with Regulation S for purchases outside of the United States. Notably, the Notes and related guarantees have not been registered under the Securities Act or any other jurisdiction’s securities laws.

This announcement is neither an offer to sell nor a solicitation of an offer to buy any securities of Icahn Enterprises. The Form 8-K, including the press release detailing the Notes Offering, is available for review. For further details or inquiries, interested parties are encouraged to refer to the provided contact information in the filing.

The market reaction to these developments is awaited with interest. The company has a diversified portfolio that includes interests in Investment, Energy, Automotive, Food Packaging, Real Estate, Home Fashion, and Pharma sectors, all of which contribute to its overall business performance.

Investors are advised to exercise caution and consider forward-looking statements as specified in the report to gauge potential future outcomes accurately. The company has committed to keeping stakeholders informed of any material developments in compliance with regulatory standards.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Icahn Enterprises’s 8K filing here.

Icahn Enterprises Company Profile

Icahn Enterprises L.P., through its subsidiaries, engages in the investment, energy, automotive, food packaging, real estate, home fashion, and pharma businesses in the United States and Internationally. The Investment segment invests its proprietary capital through various private investment funds. This segment provides investment advisory and other related services.