IAC/InterActive today completed an offering of senior notes via bookrunners J.P. Morgan, Goldman Sachs, Bank of America, BNP, PNC, and RBC, according to sources. Pricing was at the tight end of guidance and at the target size of $500 million. Issue ratings of BB+/Ba1 were assigned after S&P and Moody’s upgraded by one notch the corporate rating of IAC to BB+/Ba1, citing operating performance. New York-based IAC is a media and internet company with over 150 brands and products, including Match.com, Ask.com, and CityGrid Media. Terms:
| Issuer | IAC/InterActive |
| Ratings | BB+/Ba1 |
| Amount | $500 million |
| Issue | senior notes (144A) |
| Coupon | 4.75% |
| Price | 100 |
| Yield | 4.75% |
| Spread | T+294 |
| FRN eq. | L+289 |
| Maturity | Dec. 15, 2022 |
| Call | nc5 |
| Trade | Dec. 18, 2012 |
| Settle | Dec. 21, 2012 |
| Joint Bookrunners | JPM/GS/BAML/BNP/PNC/RBC |
| Co-leads | |
| Co’s. | |
| Px talk | 4.75-5% |
| Notes |