US EditionIAC Inc. Announces Pricing of Offering of Senior Secured Notes of Dotdash Meredith
- On June 5, 2025, IAC Inc. Disclosed that its subsidiary, Dotdash Meredith Inc., has entered into an agreement to issue $400 million of privately placed debt instruments bearing a 7.625% interest rate, maturing in 2032.
- The offering complies with standard private placement regulations and is intended to refinance DDM’s current term loan B-1 debt of $1.18 billion, with the transaction expected to close around June 16, 2025.
- DDM, based in New York City, operates over 40 major digital and print brands, reaching more than 150 million monthly users as IAC’s largest publishing subsidiary.
- The notes will bear a 7.625% annual interest rate and be issued at 100% of face value, with senior secured guarantees by DDM's subsidiaries.
- This refinancing could reduce DDM's debt burden, though completion risks and market uncertainties might affect outcomes and future financial performance.
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IAC Inc. Announces Pricing of Offering of Senior Secured Notes of Dotdash Meredith
NEW YORK, June 5, 2025 /PRNewswire/ -- 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…
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