Icahn Enterprises L.P. Intends to Offer New Senior Notes
Icahn Enterprises (NASDAQ: IEP) has announced plans to offer $500 million in additional 10.000% Senior Secured Notes due 2029 through a private placement. The new notes will be issued under the existing indenture from November 20, 2024, which previously issued $500 million of similar notes.
The notes will be secured by substantially all assets directly owned by the issuers and guarantor, with Icahn Enterprises Holdings L.P. serving as the guarantor. The company plans to use the proceeds, along with cash on hand, to partially redeem its existing 6.250% Senior Notes due 2026.
Icahn Enterprises (NASDAQ: IEP) ha annunciato l'intenzione di offrire 500 milioni di dollari in ulteriori Senior Secured Notes al 10,000% con scadenza 2029 tramite un collocamento privato. Le nuove obbligazioni saranno emesse secondo il contratto di emissione esistente dal 20 novembre 2024, che aveva gi脿 emesso 500 milioni di dollari di titoli simili.
Le obbligazioni saranno garantite da quasi tutti gli asset direttamente posseduti dagli emittenti e dal garante, con Icahn Enterprises Holdings L.P. che funger脿 da garante. La societ脿 intende utilizzare i proventi, insieme alla liquidit脿 disponibile, per riscattare parzialmente i suoi attuali Senior Notes al 6,250% con scadenza 2026.
Icahn Enterprises (NASDAQ: IEP) ha anunciado planes para ofrecer 500 millones de d贸lares en Notas Senior Garantizadas adicionales al 10.000% con vencimiento en 2029 mediante una colocaci贸n privada. Las nuevas notas se emitir谩n bajo el contrato existente desde el 20 de noviembre de 2024, que previamente emiti贸 500 millones de d贸lares en notas similares.
Las notas estar谩n garantizadas por pr谩cticamente todos los activos propiedad directa de los emisores y el garante, siendo Icahn Enterprises Holdings L.P. el garante. La compa帽铆a planea usar los ingresos, junto con el efectivo disponible, para redimir parcialmente sus actuales Notas Senior al 6,250% con vencimiento en 2026.
Icahn Enterprises (NASDAQ: IEP)电� 2029雲� 毵岅赴 10.000% 於旉皜 靹犾垳鞙� 雼措炒攵 毂勱秾 5鞏� 雼煬毳� 靷 氚╈嫕鞙茧 氚滍枆頃� 瓿勴殟鞚� 氚滍憸頄堨姷雼堧嫟. 靸堧鞖� 毂勱秾鞚 2024雲� 11鞗� 20鞚� 旮办〈 鞎届爼靹滌棎 霐半澕 氚滍枆霅橂┌, 鞚挫爠鞐� 鞙犾偓頃� 毂勱秾 5鞏� 雼煬臧 氚滍枆霅� 氚� 鞛堨姷雼堧嫟.
毂勱秾鞚 氚滍枆鞛愳檧 氤挫鞚胳澊 歆侅爲 靻岇湢頃� 瓯办潣 氇摖 鞛愳偘鞙茧 雼措炒霅橂┌, Icahn Enterprises Holdings L.P.臧 氤挫鞚� 鞐暊鞚� 頃╇媹雼�. 須岇偓电� 靾橃澋旮堦臣 氤挫湢 順勱笀鞚� 頃粯 靷毄頃橃棳 旮办〈 2026雲� 毵岅赴 6.250% 靹犾垳鞙� 毂勱秾鞚� 攵攵� 靸來櫂頃� 瓿勴殟鞛呺媹雼�.
Icahn Enterprises (NASDAQ : IEP) a annonc茅 son intention d'offrir 500 millions de dollars suppl茅mentaires en billets senior garantis 脿 10,000 % 茅ch茅ance 2029 via un placement priv茅. Les nouveaux billets seront 茅mis dans le cadre de l'acte existant du 20 novembre 2024, qui avait d茅j脿 茅mis 500 millions de dollars de billets similaires.
Les billets seront garantis par la quasi-totalit茅 des actifs d茅tenus directement par les 茅metteurs et le garant, Icahn Enterprises Holdings L.P. agissant en tant que garant. La soci茅t茅 pr茅voit d'utiliser les fonds lev茅s, ainsi que la tr茅sorerie disponible, pour racheter partiellement ses billets senior 脿 6,250 % 茅ch茅ance 2026 existants.
Icahn Enterprises (NASDAQ: IEP) hat Pl盲ne angek眉ndigt, zus盲tzliche Senior Secured Notes im Wert von 500 Millionen US-Dollar mit 10,000% Zinsen und F盲lligkeit 2029 im Rahmen einer Privatplatzierung anzubieten. Die neuen Notes werden unter der bestehenden Schuldverschreibung vom 20. November 2024 ausgegeben, unter der bereits 500 Millionen US-Dollar 盲hnlicher Notes begeben wurden.
Die Notes werden durch nahezu alle direkt vom Emittenten und B眉rgen gehaltenen Verm枚genswerte besichert, wobei Icahn Enterprises Holdings L.P. als B眉rge fungiert. Das Unternehmen plant, die Erl枚se zusammen mit vorhandenen Barmitteln zur teilweisen R眉ckzahlung seiner bestehenden Senior Notes mit 6,250% Zinsen und F盲lligkeit 2026 zu verwenden.
- Secured notes offering backed by substantial company assets
- Strategic refinancing of existing debt with longer maturity (2029 vs 2026)
- Additional $500M funding strengthens company's capital structure
- Higher interest rate on new notes (10.000% vs 6.250% on existing notes)
- Increased debt service costs will impact cash flow
- Limited to qualified institutional buyers and non-U.S. persons
Insights
Icahn Enterprises is refinancing debt at higher interest rates, suggesting potential liquidity management amid challenging financial conditions.
Icahn Enterprises (IEP) has announced its intention to issue
The most notable aspect is the interest rate differential. IEP plans to use these proceeds to partially redeem its 6.250% Senior Notes due 2026, meaning the company is refinancing debt at a substantially higher interest rate -
The secured nature of the new notes is also telling. Unlike typical unsecured senior notes, these are backed by "substantially all of the assets directly owned by the Issuers and the Guarantor." This collateralization requirement suggests lenders demanded additional protection, potentially indicating decreased market confidence in IEP's unsecured credit.
This refinancing appears to be primarily focused on extending debt maturities rather than reducing leverage, as the company is addressing notes coming due in 2026 with longer-term debt maturing in 2029. This three-year extension provides breathing room but comes at the significant cost of higher interest rates and encumbered assets.
The transaction structure - using both the new notes and cash on hand to only "partially redeem" the 2026 notes - suggests careful liquidity management, as the company is preserving some cash while addressing upcoming maturities.
The Notes and related guarantees are being offered only (1) in
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, AG真人官方 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
Investor Contact:
Ted Papapostolou, Chief Financial Officer
[email protected]
(800) 255-2737
View original content:
SOURCE Icahn Enterprises L.P.