Icahn unties personal loans from his investment firm's share price, shares jumps

📆 10/07/2023 20:15:00
📰 Reuters

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Billionaire activist investor Carl Icahn has amended the terms of his personal loans to separate them from the price of Icahn Enterprises' depositary units, the investment firm disclosed in a filing on Monday.

, which amends and restates previous loan agreements with such lenders and consolidates all of Icahn's borrowings, the filing said.

Icahn will repay a principal of $500 million on or before Sept. 1, eight quarterly principal payments of $87.5 million beginning a year after that, and a final principal payment of $2.5 billion at the end of the term.

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