IAC to repay 4 7/8% senior notes due 2018 via proceeds from new notes

By Sarah Lizee

Olympia, Wash., Sept. 25 – IAC/InterActiveCorp. intends to repay in full its outstanding 4 7/8% senior notes due 2018 using proceeds from an offering of exchangeable senior notes due 2022, according to a company news release.

The company announced on Monday that it plans to issue $400 million of the exchangeable notes in a private placement.

Proceeds will also be used pay the premium on the exchangeable note hedge transactions and for general corporate purposes.

IAC is a media and internet company based in New York.

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