Icahn Enterprises announces $500 million senior secured notes offering

SUNNY ISLES BEACH, Fla. - Icahn Enterprises L.P. (NASDAQ:IEP), currently valued at approximately $5 billion and trading near InvestingPro’s Fair Value estimate, announced Tuesday it plans to offer an additional $500 million in 10.000% Senior Secured Notes due 2029 through a private placement.

The notes will be issued under the same indenture as the existing $500 million notes announced in November 2024, according to a company press release. The new notes will be guaranteed by Icahn Enterprises Holdings L.P. and secured by substantially all assets directly owned by the issuers and guarantor. The company maintains a solid liquidity position with a current ratio of 1.59, though it carries total debt of $6.7 billion.

Proceeds from the offering, combined with cash on hand, will be used to partially redeem the company’s existing 6.250% Senior Notes due 2026.

The notes are being offered only to qualified institutional buyers in the United States under Rule 144A and to non-U.S. persons outside the United States under Regulation S. The securities have not been registered under the Securities Act.

Icahn Enterprises, a master limited partnership, operates across diverse sectors including investment, energy, automotive, food packaging, real estate, home fashion, and pharmaceuticals.

The company noted in its statement that there is no assurance the issuance and sale of the debt securities will be completed. The announcement comes amid the company’s ongoing efforts to manage its debt structure. Despite current challenges including weak gross profit margins of 4.45%, InvestingPro analysis suggests potential improvement ahead, with detailed insights available in the comprehensive Pro Research Report covering this and 1,400+ other US stocks.

In other recent news, Icahn Enterprises L.P. announced its financial results for the second quarter of 2025, showing a notable earnings miss. The company reported an earnings per share (EPS) of -$0.30, which was significantly below the anticipated $0.15, resulting in a negative surprise of 300%. Additionally, revenue fell short of expectations, coming in at $2.14 billion compared to the forecasted $2.40 billion, a 10.83% shortfall. These results highlight a challenging period for Icahn Enterprises, with both earnings and revenue not meeting analyst projections. Despite these financial setbacks, other developments or analyst opinions were not provided in the recent updates. The company’s performance in this quarter may influence future analyst ratings and investor sentiment. Investors will likely be watching for any strategic changes or additional announcements from Icahn Enterprises in response to these results.

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