Icahn talks $250 million tap of 6¼% notes at 101.035 to yield 6%; pricing Monday

By Paul A. Harris

Portland, Ore., June 24 – Icahn Enterprises LP and Icahn Enterprises Finance Corp. intend to price a $250 million add-on to their 6¼% senior notes due 2026 (existing ratings Ba3/BB+) in a Monday drive-by, according to market sources.

Price talk is 101.035 implying a 6% yield to worst. That official talk comes toward the rich end of initial talk in the 101 area.

Jefferies LLC is the bookrunner for the Rule 144A and Regulation S with registration rights offering.

The notes become callable May 15, 2022 at 103.125.

The New York-based diversified holding company plans to use the proceeds for general partnership purposes, including repayment of its 6% senior notes due 2020.

The original $750 million issue priced on May 7, 2019.

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