03:48 PM EDT, 05/13/2024 (MT Newswires) -- Icahn Enterprises ( IEP ) said Monday it and its Icahn Enterprises Finance unit plan to begin a $500 million private placement of senior unsecured notes due 2030.

Proceeds from the placement along with cash at hand will be used for partial payment of existing 6.375% senior unsecured notes due 2025, according to the company.

The company shares were up 2% in recent trading.

Price: 18.35, Change: +0.37, Percent Change: +2.04