2014

Icahn Enterprises L.P. Announces Early Tender Results

NEW YORK, Jan. 21, 2014 /PRNewswire/ -- Icahn Enterprises L.P. ("Icahn Enterprises") together with Icahn Enterprises Finance Corp. (together with Icahn Enterprises, the "Issuers"), today announced early tender results and the satisfaction of the financing condition in connection with the previously announced debt refinancing transactions. The refinancing transactions include a cash tender offer for any and all of the Issuers' $1.050 billion aggregate principal amount of 7.75% Senior Notes due 2016 (the "2016 Notes") and $2.450 billion aggregate principal amount of 8.00% Senior Notes due 2018 (the "2018 Notes" and together with the 2016 Notes, the "Notes").  The transactions are being funded with the proceeds of the Issuers' previously announced offering of $1.200 billion in aggregate principal amount of their 6.000% Senior Notes due 2020 (issued at 102% of par or a 5.63% yield-to-maturity) (the "2020 Notes), $1.275 billion in aggregate principal amount of their 4.875% Senior Notes due 2019 (the "2019 Notes") and $1.175 billion in aggregate principal amount of their 3.500% Senior Notes due 2017 (the "2017 Notes and together with the 2020 Notes and the 2019 notes, the "New Notes") that closed today.

As of the early tender deadline at 5:00 p.m., New York City time, on January 17, 2014, $651,217,000 aggregate principal amount of the 2016 Notes (representing approximately 62.02% of the outstanding 2016 Notes) and $1,768,889,000 aggregate principal amount of the 2018 Notes (representing approximately 72.2% of the outstanding 2018 Notes) had been tendered. The Issuers' have exercised their option to accept for payment and settle the tender offer with respect to all of the 2016 Notes and 2018 Notes that were validly tendered at, or prior to, the early tender deadline. Settlement of the purchase of these Notes occurred today, January 21, 2014.

The tender offer will expire at 11:59 p.m., New York City time, on February 3, 2014, unless the tender offer is extended or earlier terminated. The Issuers have called the Notes that remain outstanding following the tender offer for redemption on February 6, 2014.

This press release does not constitute a notice of redemption under the optional redemption provisions of the indenture governing any notes, nor does it constitute an offer to sell, or a solicitation of an offer to buy, any security. No offer, solicitation, or sale will be made in any jurisdiction in which such an offer, solicitation, or sale would be unlawful.

Requests for documents relating to the tender offer and consent solicitation may be directed to Global Bondholder Services Corp., the Information Agent, at (866) 804-2200 or (212) 430-3774 (banks and brokers). Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and Morgan Stanley & Co LLC are acting as joint Dealer Managers for the tender offer. Questions regarding the tender offer and may be directed to Citigroup at (800) 558-3745 (toll free) or (212) 723-6106 (collect), to Credit Suisse at (800) 820-1653 (toll free) or (212) 538-2147 (collect) and to Morgan Stanley at (800) 624-1808 (toll free) or (212) 761-9292 (collect).

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Icahn Enterprises L.P. (NASDAQ: IEP), a master limited partnership, is a diversified holding company engaged in nine primary business segments: Investment, Automotive, Energy, Gaming, Railcar, Food Packaging, Metals, Real Estate and Home Fashion.

Caution Concerning Forward-Looking Statements

This release contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, many of which are beyond our ability to control or predict. Forward-looking statements may be identified by words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "will" or words of similar meaning and include, but are not limited to, statements about the expected future business and financial performance of Icahn Enterprises L.P. and its subsidiaries. Among these risks and uncertainties are risks related to economic downturns, substantial competition and rising operating costs; risks related to our investment activities, including the nature of the investments made by the funds we manage, losses in the funds and loss of key employees; risks related to our automotive activities, including exposure to adverse conditions in the automotive industry, and risks related to operations in foreign countries; risks related to our energy business, including the volatility and availability of crude oil, other feed stocks and refined products, unfavorable refining margin (crack spread), interrupted access to pipelines, significant fluctuations in nitrogen fertilizer demand in the agricultural industry and seasonality of results; risk related to our gaming operations, including reductions in discretionary spending due to a downturn in the local, regional or national economy, intense competition in the gaming industry from present and emerging internet online markets and extensive regulation; risks related to our railcar activities, including reliance upon a small number of customers that represent a large percentage of revenues and backlog, the health of and prospects for the overall railcar industry and the cyclical nature of the railcar manufacturing business; risks related to our food packaging activities, including competition from better capitalized competitors, inability of its suppliers to timely deliver raw materials, and the failure to effectively respond to industry changes in casings technology; risks related to our scrap metals activities, including potential environmental exposure; risks related to our real estate activities, including the extent of any tenant bankruptcies and insolvencies; risks related to our home fashion operations, including changes in the availability and price of raw materials, and changes in transportation costs and delivery times; and other risks and uncertainties detailed from time to time in our filings with the Securities and Exchange Commission. Past performance in our Investment segment is not necessarily indicative of future performance. We undertake no obligation to publicly update or review any forward-looking information, whether as a result of new information, future developments or otherwise.

767 Fifth Avenue, New York, New York 10153
Telephone: (212) 702-4300
Fax: (212) 750-5841
NASDAQ – IEP

SOURCE Icahn Enterprises L.P.




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