Icahn In $500 Million Bond Sale

Nov 9 2010 | 11:35am ET

Icahn Enterprises, the holding company owned by Carl Icahn's hedge fund, will sell $500 million in senior debt as part of a reopening as the company embarks on a hostile takeover of movie studio Lions Gate Entertainment.

The securities could be sold as soon as today, Bloomberg News reports. The notes due in 2016 pay 7.75% and those due in 2018 8%. Both are currently trading well below those yields.

Icahn first sold the bonds as part of a private placement in January. The company raised some $2 billion to refinance debt set to mature in 2012 and 2013 at much higher interest rates.

In a statement, Icahn said the proceeds from the current sale would be used for general corporate purposes.


In Depth

Q&A: Star Mountain's Brett Hickey On Investing In 'The Growth Engine Of America'

Sep 22 2017 | 5:06pm ET

Lower middle-market companies form the economic fabric of the nation, but they can...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Don’t Overlook These 6 Hybrid Cloud Concerns

Sep 14 2017 | 6:27pm ET

Cloud-based technology solutions have made tremendous inroads into the alternative...

 

From the current issue of

Business Insider has been reporting on the unusual trading activity of a mystery trader who placed a profitable short equity bet to the tune of $21 million on the Aug. 10 move in the CBOE Volatility Index (VIX).