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On July 10, 2023, Carl Icahn and certain of his affiliates entered into a three-year term loan agreement (the “Loan Agreement”) with Bank of America, N.A., Bank of Montreal, Deutsche Bank AG, New York Branch, Morgan Stanley Private Bank, National Association, and M&T Bank, which amends and restates previous loan agreements with such lenders and consolidates all borrowings of Mr. Icahn.

… The obligations under the Loan Agreement are secured by pledges of an aggregate of 320 million depositary units of IEP owned by Mr. Icahn and $2 billion of interests owned by Mr. Icahn in the private investment funds managed by IEP.

https://www.ielp.com/node/16211/html