Wednesday, 23 July 2014
Last updated 8 hours ago
Nov 9 2010 | 10:35am 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.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…