After Friday's close, IAC reported that it has secured about $2 billion in funds to finance its spin-off of Interval Leisure Group Inc., Ticketmaster, and HSN Inc. The financing includes $840 million in bonds and $1.15 billion in senior credit facilities. At the time of the spin-off, Interval Leisure Group is expected to have $450 million in funded debt and about $120 million in cash while Ticketmaster will have $754 million in debt and $500 million in cash. HSN is also expected to have $390 million in debt and $50 million in cash.
$17.87 (07/19/08)
