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Reuters: Hilton Worldwide Preps $5.85B Refinancing Loan

September 16, 2013, 07:34 AM
Filed Under: Hotel & Resort

Reuters reported Hilton Worldwide is launching a $5.85 billion credit at a bank meeting at on September 17 in New York City, sources told Thompson Reuters LPC. According to the Reuters report, proceeds will refinance existing debt in advance of Hilton's initial public offering.
Reuters said Deutsche Bank is lead left on the loans, with Bank of America Merrill Lynch, JP Morgan, Morgan Stanley, and Goldman Sachs to the right. The new loan will consist of an $850 million, five-year term loan B-1 and a $5 billion, seven-year term loan B-2.  The borrower on the credit is Hilton Worldwide Finance LLC, sources added.

Reuters reports that prior to the IPO, Hilton plans to enter into a refinancing credit consisting of the new term loans and a new senior secured revolving credit facility, according to a September 12 SEC filing.

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