This was expected, but still you can’t take anything for granted in this environment: IAC (NSDQ: IACI) said this afternoon that it has successfully raised about $2 billion in debt, associated with its spinoff plan. Specifically, the company raised $840 million through bonds and another $1.15 billion through senior notes. IAC CFO Tom McInerney touted the raise as evidence of health at Interval, HSN and TicketMaster (Lending Tree, the weakest of the units is not incurring any debt, and will in fact be given cash). The announcement has the exact breakdown of debt between each unit. After the dust settles, IAC will have about $1.3 billion to invest internally and in new acquisitions, according to McInerny. Technically, the money will be received upon completing some paperwork and other technicalities over the next several days.

Meanwhile, in a new note put out today, Doug Anmuth offered some reactions following meetings with IAC management.

-- “Top 3 pts: 1) We expect Ask.com to have strong bottom line in near term on GOOG deal & shift from network to prop.; 2) Mgmt clearly stated it would deploy capital in very disciplined way going forward, & would focus on small, strategic deals that fit into IAC’s advertising strategy; & 3) Mgmt was highly optimistic on HSN’s prospects post-spin.”

-- “Core of new IAC strategy is taking significant learnings around distribution & monetization from the multiple businesses the co. has run in recent yrs & applying them to current media asset base.”

-- ”Ask to be repositioned in Oct., returning to “ask & answer” roots. Mgmt expects mid-20s% margins long term.”

• Updated: IAC: After The Spins, What Will It Do With The Cash?