Icahn Enterprises L.P. Announces Plans for New $500 Million Senior Notes Offering

Sunny Isles Beach, FL – August 5, 2025 – Icahn Enterprises L.P., trading on NASDAQ under the symbol IEP, has made a significant announcement regarding its financial strategy. The diversified holding company revealed its intent to initiate an offering of an additional $500 million in aggregate principal amount of 10.000% Senior Secured Notes, due in 2029. This move is part of a calculated effort to bolster its financial position while addressing existing obligations.

The new notes will be issued in a private placement and will not be registered under the Securities Act of 1933. This means the offering will be limited to qualified institutional buyers under Rule 144A and individuals outside the United States in compliance with Regulation S of the Securities Act. The issuance will take place under the existing indenture established on November 20, 2024, with the participation of trusted financial entities such as Wilmington Trust, National Association, serving as the collateral agent and trustee.

The proceeds from this offering are earmarked to partially redeem Icahn Enterprises' earlier-issued 6.250% Senior Notes, which are due in 2026. This is a strategic move aimed at optimizing the company's debt profile, although the company has noted that there are no guarantees on the finality of the issuance and sale of these debt securities.

Icahn Enterprises is characterized as a master limited partnership with a diversified portfolio, engaging in various sectors such as investment, automotive, energy, real estate, home fashion, and pharmaceuticals. The recent announcement comes amidst a challenging financial landscape, where companies are continually seeking ways to maintain liquidity and strengthen their balance sheets.

Cautious Optimism in a Volatile Market
Aside from funding management, the announcement reflects Icahn Enterprises' commitment to navigating through the current economic conditions marked by uncertainty. The company has acknowledged the inherent risks associated with economic downturns, competition, and rising operational costs. Moreover, external factors such as geopolitical tensions, including the ongoing Russia-Ukraine conflict and instability in the Middle East, pose additional challenges that could affect its investment strategies and operational performance.

At the core of this offering is the company's overall objective to enhance its competitive edge while securing adequate capital for operational expansion and debt refinancing. These notes will be secured by a significant portion of the Issuers' and the Guarantor's assets, adhering to typical structural considerations to safeguard investors' interests.

About Icahn Enterprises L.P.
Icahn Enterprises is not only a diversified holding company but also engages under various sectors, ensuring a well-rounded and resilient business model. From energy initiatives to pharmaceutical ventures and automotive endeavors, Icahn Enterprises is equipped to adapt to changing market conditions while pursuing growth.

The company has also made it clear that it is not soliciting any offers for purchase of securities in conjunction with this release, maintaining compliance with regulatory standards while ensuring transparency with potential investors and stakeholders.

In a world of uncertainty, Icahn Enterprises L.P.'s latest announcement illustrates how proactive financial strategies can potentially lead to enhanced stability and growth, despite the adversity faced in today's vibrant economy. The financial community will be watching closely as this development unfolds, and investors are encouraged to stay informed about the evolving landscape as this offering progresses.