Interval Acquisition to start roadshow Tuesday for $300 million eight-year notes

By Paul A. Harris

St. Louis, July 7 - Interval Acquisition Corp., which is being spun off from IAC/InterActiveCorp., will make an internet roadshow available beginning on Tuesday for its $300 million offering of eight-year senior notes (B1/BB), according to an informed source.

Morgan Stanley is the left bookrunner for the Rule 144A with registration rights offering. Barclays Capital and Wachovia Securities are joint bookrunners. Banc of America Securities LLC, J.P. Morgan Securities Inc. and Merrill Lynch & Co. are senior co-managers. Scotia Capital is the co-manager.

The notes will come with four years of call protection.

Proceeds will be used to fund a dividend prior to the spinoff of the company.

Pricing is expected in the middle of July 14 week.

The prospective issuer is a New York-based membership and subscriptions services provider.

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