IAC的Dotdash Meredith已同意出售2032年到期的本金总额为4亿美元的7.625%的高级担保票据

IAC Inc. (NASDAQ:IAC) ("IAC") announced today that its wholly owned subsidiary, Dotdash Meredith Inc. ("DDM"), has agreed to sell $400 million aggregate principal amount of 7.625% senior secured notes due 2032 (the "Notes") in a private offering (the "Offering").  The Notes will bear interest at an interest rate of 7.625% per annum and will be issued at 100.00% of their face value.  DDM's obligations under the Notes will be guaranteed on a senior secured basis by certain of DDM's subsidiaries.

DDM intends to use the proceeds of the offering, together with the borrowings under DDM's new $700.0 million term loan B facility and cash on hand, to repay all of the indebtedness outstanding under DDM's existing $1.18 billion term loan B-1 facility and to pay related fees and expenses.  The closings of each of the Offering and new term loan B facility are expected to occur on or about June 16, 2025, each subject to the satisfaction of customary closing conditions.