IAC Inc. (IAC): debt financing — Dotdash Meredith (IAC unit) refinances $350M term loans and $150M revolver, maturing 2030

IAC Inc.

New $350M Term A Loans replace existing term loans; $150M revolver replaces undrawn existing revolver.
Maturity set at May 14, 2030, with springing maturity tied to term B-1 loans.
Interest margins: initial 1.00% base / 2.00% term benchmark, then sliding 0.25%-1.25% / 1.25%-2.25%.
Quarterly amortization: 5% p.a. through 2027; steps up to 10% in 2028 and 15% in 2029-2030.
Consolidated net leverage covenant max 5.50x; cash deduction increased from $250M to $330M.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

IAC Inc. incurred revolving credit of $150,000,000 revolving credit facility with JPMorgan Chase Bank, N.A., as administrative agent and collateral agent at initially 1.00% for base rate loans and 2.00% for term benchmark loans maturing May 14, 2030.

Instrument: revolving credit
Principal: $150,000,000 revolving credit facility
Counterparty: JPMorgan Chase Bank, N.A., as administrative agent and collateral agent
Rate: initially 1.00% for base rate loans and 2.00% for term benchmark loans
Maturity: May 14, 2030
Event: incurrence

Exact text from the filing

nd JPMorgan Chase Bank, N.A., as administrative agent and collateral agent (“ JPMorgan ”), amending that certain Credit

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

IAC Inc. incurred credit facility of $350,000,000 of new term A loans with JPMorgan Chase Bank, N.A., as administrative agent and collateral agent at initially 1.00% for base rate loans and 2.00% for term benchmark loans maturing May 14, 2030.

Instrument: credit facility
Principal: $350,000,000 of new term A loans
Counterparty: JPMorgan Chase Bank, N.A., as administrative agent and collateral agent
Rate: initially 1.00% for base rate loans and 2.00% for term benchmark loans
Maturity: May 14, 2030
Event: incurrence

Exact text from the filing

nd JPMorgan Chase Bank, N.A., as administrative agent and collateral agent (“ JPMorgan ”), amending that certain Credit

View on SEC.gov

41 debt financings filed in the last 30 days. Browse all debt financings →

IAC Inc. filing history →

Source: SEC EDGAR

accession 0001104659-25-050217

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