IAC subsidiary Dotdash Meredith refinances $1.18B debt with $400M notes and $700M term loan

IAC Inc.

DDM issued $400M 7.625% Senior Secured Notes due 2032; interest payable semi-annually.
DDM entered a new $700M Term Loan B Facility maturing June 16, 2032, replacing $1.18B existing term loan.
Proceeds from notes and new term loan used to repay all outstanding under the existing term loan B-1 facility.
New term loan bears interest at base rate +2.50% or term benchmark rate +3.50%; no credit spread adjustment.
Notes and term loan secured by first-priority liens on substantially all DDM and guarantor assets.

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