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Icahn Enterprises to redeem 5 7/8% notes via proceeds of new notes
By Wendy Van Sickle
Columbus, Ohio, Jan. 6 – Icahn Enterprises LP and Icahn Enterprises Finance Corp. plan to use proceeds of $300 million of senior notes in the form of two add-on tranches to redeem all of their outstanding 5 7/8% senior notes due 2022, according to a news release on Monday.
The issuers previously announced their intent to redeem the 5 7/8% notes on Feb. 1 at par plus accrued interest to but excluding the redemption date.
The New York-based diversified holding company announced the quick-to-market offering of new notes on Monday. Additional proceeds are slated for general corporate purposes.
The offering features an add-on to its 4¾% senior notes due Sept. 15, 2024 with initial talk in the 102 area.
The new Icahn Enterprises deal also features an add-on the 5¼% notes due May 15, 2027 with initial talk in the 101.5 area.
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