Latham & Watkins Advises on Icahn Enterprises’ Upsizing and Closing of Senior Notes

Icahn Enterprises L.P. (NASDAQ: IEP) has announced that it, together with Icahn Enterprises Finance Corp. (together with Icahn Enterprises, the Issuers), has closed two offerings, totaling US$700 million aggregate principal amount of 9.750% Senior Notes due 2029 in a private placement not registered under the Securities Act of 1933, as amended (such offering, the Notes Offering). The Issuers priced their first offering of US$500 million on December 12, 2023, with an additional US$200 million offering priced on December 15, 2023. The net proceeds from the Notes Offering will be used, together with cash on hand, to redeem the Issuers' existing 4.75% Senior Unsecured Notes due 2024 in full. The Notes Offering closed on December 19, 2023.

Latham & Watkins represented the initial purchaser in the offering with a New York capital markets team led by partners Nathan Ajiashvili and Andrew Baker, with associates Angel Marcial and Amanda Farrish.