Icahn Shares Surge on Renegotiated Loan Terms After Hindenburg

Carl Icahn has renegotiated loan terms with a group of banks just months after a report by short seller Hindenburg Research sent shares in his investment firm tanking.

The activist investor has consolidated all his borrowing under a new three-year term loan, according to a Securities and Exchange Commission filing on Monday. It extends the maturity of previous loans with the banks and includes amendments to certain covenants.

Icahn Enterprises rose as much as 19% on the news, and was trading up 18% to $34.06 at 10:26 a.m. in New York.

The new agreement unties Icahn’s loans from the share ...