As hotel industry revenues continue plummeting, McLean-based Hilton Worldwide Holdings Inc. announced this week it will sell $1.9 billion in debt in a private offering to institutional buyers.
The hotelier will sell $800 million of senior notes (due in 2029) at a 3.75% interest rate and an additional $1.1 billion at a 4% rate. Those will be due in 2031.
Hilton will use the proceeds from the offering to redeem all of its outstanding 4.25% senior notes due in 2024 and use the remaining proceeds to redeem its outstanding 4.625% senior notes due in 2025, according to a company statement.
