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Icahn Enterprises driving by with $455 million tap of 5¼% bullet, price talk 101.75 to 102
By Paul A. Harris
Portland, Ore., April 8 – Icahn Enterprises LP and Icahn Enterprises Finance Corp. plan to price a $455 million add-on to their 5¼% senior bullet notes due May 15, 2027 in a Thursday drive-by, according to an informed source.
Price talk is 101.75 to 102.
Books close at 1:30 p.m. ET Thursday, and the deal is set to price thereafter.
Jefferies LLC is the sole bookrunner.
The Rule 144A and Regulation S with registration rights notes are covered by a make-whole call at Treasuries plus 50 basis points until Nov. 15, 2026, then become callable at par. They are otherwise non-callable.
The New York-based diversified holding company plans to use the proceeds to redeem its 6¼% senior notes due Feb. 1, 2022.
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