UPDATE 1-IAC prices debt ahead of spin-offs

NEW YORK, July 18 (Reuters) - Barry Diller's Internet conglomerate IAC/InterActiveCorp (IACI.O: Quote, Profile, Research, Stock Buzz) said on Friday it has entered into agreements for the placing of $840 million in bonds and $1.15 billion in senior credit facilities for three of its upcoming spin-offs.

Time-share exchange Interval Leisure Group is expected to have $450 million in funded debt and about $120 million in cash at the time of the spin-off.

Ticketing service Ticketmaster is expected to have $754 million in funded debt and about $500 million in cash.

Shopping network HSN is expected to have $390 million in funded debt and $50 million in cash at the spin-off.

"These actions move us substantially closer to completing the spin-offs on the timetable we have laid out," IAC Chief Financial Officer Tom McInerney said in a statement.

IAC is expected to have $1.3 billion in net cash to invest in Internet businesses.

The company said the proceeds from the financing will be used to fund a dividend to IAC ahead of the spin-offs and other activities.

In June, IAC disclosed in a regulatory filing that it stood to reap more than $1.5 billion in dividends from three of its four spin-offs. (Reporting by Kenneth Li, editing by Phil Berlowitz)