Hilton Worldwide to Reduce Debt with $500M Offering

By Tamara Parker • Tuesday, July 08 06:02 • Permanent Link

Hilton Worldwide Holdings Inc. has announced its intention to offer $500 million aggregate principal amount of senior notes due 2033 through its indirect subsidiary, Hilton Domestic Operating Company Inc. The net proceeds from this offering, combined with available cash, will be used to repay $515 million of indebtedness under the issuer’s senior secured revolving credit facility.

In comparison to the previous period, the company aims to use the proceeds to reduce its total indebtedness significantly. This move could potentially improve the company’s debt-to-equity ratio and strengthen its financial position.

This press release does not provide specific financial metrics such as revenue, EBITDA, or net income. Therefore, it's unclear whether the offering will have a direct impact on these financial indicators. However, it's evident that the company is actively managing its debt obligations, which could be seen as a positive step for the company's financial health. As a result of these announcements, the company's shares have moved -1.73% on the market, and are now trading at a price of $268.69. For more information, read the company's full 8-K submission here.

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