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Hilton to repay credit facility borrowings with new note proceeds
By Sarah Lizee
Olympia, Wash., June 24 – Hilton Worldwide Holdings Inc. subsidiary Hilton Domestic Operating Co. Inc. plans to repay borrowings under its senior secured credit facilities, including $500 million of borrowings under its term B-2 loans, using proceeds from new notes, according to an 8-K filing with the Securities and Exchange Commission.
As previously reported, the company priced an upsized $1 billion issue of senior notes due Jan. 15, 2030 (Ba2/BB+) at par to yield 4 7/8%.
Proceeds from the notes will also be used for general corporate purposes, which may include share repurchases.
Hilton is a McLean, Va.-based hospitality company.
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