Hilton Worldwide firms $3.96 billion term B-2 at Libor plus 200 bps

By Sara Rosenberg

New York, March 9 – Hilton Worldwide Finance LLC finalized pricing on its $3,959,000,000 covenant-light term loan B-2 due October 2023 at Libor plus 200 basis points, the low end of the Libor plus 200 bps to 225 bps talk, according to a market source.

As before, the term loan B-2 has a 0% Libor floor.

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

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.

Initially existing term loan B-1 lenders were being offered a 12.5 bps extension fee, but that fee was eliminated from the proposal, the source added.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.