updated 11/12/2010 4:04:18 PM ET 2010-11-12T21:04:18

Icahn Enterprises LP, the investing vehicle for billionaire Carl Icahn, said Friday that it closed the offering of $500 million in 7.75 percent senior notes due 2016 and 8 percent senior notes due 2018.

The notes were sold in a private offering to institutional buyers.

The company plans to use the proceeds from the offering for general corporate purposes.

Jefferies & Co. served as the book-running manager and initial purchaser for the offering.

Shares of the company fell $1.14, or 3.2 percent, to $34.98 in late day trading.

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