Hilton Worldwide Finance launches $3.23 billion term loan B-2 at Libor plus 250-275 bps

By Sara Rosenberg

New York, Aug. 2 – Hilton Worldwide Finance LLC launched on Tuesday its $3,225,000,000 covenant-light term loan B-2 due October 2023 with price talk of Libor plus 250 basis points to 275 bps with no floor and a 25 bps extension fee/original issue discount, according to a market source.

The loan has 101 soft call protection for six months, the source said.

Deutsche Bank Securities Inc., Bank of America Merrill Lynch, Goldman Sachs Bank USA, Morgan Stanley Senior Funding Inc., J.P. Morgan Securities LLC and Wells Fargo Securities LLC are the bookrunners on the deal.

Commitments are due on Aug. 9, the source added.

Proceeds will be used to amend and extend by three years a portion of the company’s existing $4,225,000,000 term loan B.

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

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