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Jan. 21, 2014 /PRNewswire/ -- Icahn Enterprises L.P. ("Icahn Enterprises") together with Icahn Enterprises Finance Corp. (together with Icahn Enterprises, the "Issuers"), today announced early tender results and the satisfaction of the financing condition in connection with the previously announced debt refinancing transactions. The refinancing transactions include a cash tender offer for any and all of the Issuers'
$1.050 billion aggregate principal amount of 7.75% Senior Notes due 2016 (the "2016 Notes") and
$2.450 billion aggregate principal amount of 8.00% Senior Notes due 2018 (the "2018 Notes" and together with the 2016 Notes, the "Notes"). The transactions are being funded with the proceeds of the Issuers' previously announced offering of
$1.200 billion in aggregate principal amount of their 6.000% Senior Notes due 2020 (issued at 102% of par or a 5.63% yield-to-maturity) (the "2020 Notes),
$1.275 billion in aggregate principal amount of their 4.875% Senior Notes due 2019 (the "2019 Notes") and
$1.175 billion in aggregate principal amount of their 3.500% Senior Notes due 2017 (the "2017 Notes and together with the 2020 Notes and the 2019 notes, the "New Notes") that closed today.
As of the early tender deadline at
New York City time, on
January 17, 2014,
$651,217,000 aggregate principal amount of the 2016 Notes (representing approximately 62.02% of the outstanding 2016 Notes) and
$1,768,889,000 aggregate principal amount of the 2018 Notes (representing approximately 72.2% of the outstanding 2018 Notes) had been tendered. The Issuers' have exercised their option to accept for payment and settle the tender offer with respect to all of the 2016 Notes and 2018 Notes that were validly tendered at, or prior to, the early tender deadline. Settlement of the purchase of these Notes occurred today,
January 21, 2014.
The tender offer will expire at
New York City time, on
February 3, 2014, unless the tender offer is extended or earlier terminated. The Issuers have called the Notes that remain outstanding following the tender offer for redemption on
February 6, 2014.
This press release does not constitute a notice of redemption under the optional redemption provisions of the indenture governing any notes, nor does it constitute an offer to sell, or a solicitation of an offer to buy, any security. No offer, solicitation, or sale will be made in any jurisdiction in which such an offer, solicitation, or sale would be unlawful.