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Legal News

Cahill Represents the Debt Financing Sources in Spin-off of IAC Companies

Date: 08/21/08

Cahill represented the debt financing sources in connection with the spin-offs of Ticketmaster, HSN, Inc. and Interval Acquisition Corp. from their parent, IAC/InterActive Corporation.

Cahill represented J.P. Morgan Securities Inc., Merrill Lynch & Co. and Banc of America Securities LLC, as representatives for the Initial Purchasers in connection with an offering by Ticketmaster of $300,000,000 principal amount of its 10.75% Senior Notes due 2016 and represented JPMorgan Chase Bank, N.A. as Administrative Agent and Collateral Agent in the $650,000,000 Credit Facility for Ticketmaster comprised of a $100,000,000 Term A Loan, a $350,000,000 Term B Loan and a $200,000,000 Revolving Credit Facility.

Cahill represented Banc of America Securities LLC, J.P. Morgan Securities Inc. and Morgan Stanley & Co. as representatives for the Initial Purchasers in connection with an offering by HSN, Inc. of $240,000,000 principal amount of its 11.25% Senior Notes due 2016 and represented Bank of America, N.A. as Administrative Agent and Collateral Agent in the $300,000,000 Credit Facility for HSN, Inc. comprised of a $150,000,000 Term Loan and a $150,000,000 Revolving Credit Facility.

Cahill represented Wachovia Bank, National Association as Administrative Agent and Collateral Agent in the $200,000,000 Credit Facility for Interval Acquisition Corp., comprised of a $150,000,000 Term Loan and a $50,000,000 Revolving Credit Facility.