Hilton Worldwide launches term loan B amendment to transition to SOFR

By Sara Rosenberg

New York, Dec. 5 – Hilton Worldwide Holdings Inc. launched an amendment to its $2.6 billion term loan B due June 2026 to migrate to SOFR from Libor, according to a market source.

Under the amendment, pricing on the term loan B would be SOFR+10 basis points CSA plus 175 bps with a 0% floor, versus current pricing of Libor plus 175 bps with a 0% Libor floor, the source said.

Deutsche Bank Securities Inc. is leading the amendment.

Negative consent for the amendment is required by 5 p.m. ET on Friday, the source added.

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

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