Hilton Worldwide to launch $3.96 billion term loan B-2 on Wednesday

By Sara Rosenberg

New York, Feb. 28 – Hilton Worldwide Finance LLC is scheduled to hold a lender call at 9:30 a.m. ET on Wednesday to launch a $3,959,000,000 covenant-light term loan B-2 due October 2023, according to a market source.

Deutsche Bank Securities Inc. and Goldman Sachs Bank USA are the bookrunners on the deal.

The term loan B-2 is talked at Libor plus 200 basis points to 225 bps with a 0% Libor floor, the source said.

Proceeds will be used to reprice an existing $3,209,000,000 term loan B-2 from Libor plus 250 bps with a 0% Libor floor and to extend/refinance a $750 million term loan B-1.

Existing term loan B-1 lenders are being offered a 12.5 bps extension fee, the source added.

Hilton is a McLean, Va.-based hospitality company.

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