Icahn to price $1.26 billion three-part notes offering on Friday; investor call Thursday afternoon

By Paul A. Harris

Portland, Ore., Nov. 30 – Icahn Enterprises LP and Icahn Enterprises Finance Corp. scheduled a meeting with high-yield bond investors for 1 p.m. ET on Thursday.

The New York-based diversified holding company plans to sell $1.26 billion of senior notes in three tranches, including:

• A $380 million add-on to the 6¼% senior notes due Feb. 1, 2022. The notes have a make-whole call at Treasuries plus 50 basis points until Feb. 1, 2019, then are callable at 103.125. The original $695 million priced at par on Jan. 12, 2017;

• A 380 million add-on to the 6¾% senior notes due Feb. 1, 2024. The notes have a make-whole call at Treasuries plus 50 bps until Feb. 1, 2020, then are callable at 103.375. The original $500 million issue priced at par on Jan. 12, 2017; and

• $500 million of new senior notes due 2025.

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

Pricing is set for Friday.

Proceeds will be used to refinance the 4 7/8% senior notes due 2019.

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