IAC/InterActiveCorp's $500 million 10-year notes talked to yield 4¾%-5%, to price Tuesday

By Paul A. Harris and Aleesia Forni

Columbus, Ohio, Dec. 18 - IAC/InterActiveCorp has set talk for its planned $500 million issue of 10-year senior notes (expected ratings Ba1/BB+) to yield 4¾% to 5%, a market source said.

Books close at 1 p.m. ET on Tuesday, and pricing is expected thereafter.

The deal was originally expected to price Wednesday.

J.P. Morgan Securities LLC, Goldman Sachs & Co., Bank of America Merrill Lynch and BNP Paribas Securities Corp. are the joint bookrunners.

PNC Capital Markets and RBC Capital Markets are co-managers.

The Rule 144A and Regulation S with registration rights notes will be non-callable for five years.

Proceeds will be used for general corporate purposes.

IAC/InterActiveCorp is a New York-based internet company that reports revenue in search, personals, media and other areas.

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