Simpson Thacher Represents Hilton and Blackstone in Restructuring of Hilton's Debt
04.21.10
This is only gets display when printing
The Firm has represented Hilton Worldwide and affiliates of The Blackstone Group in the restructuring of substantially all of Hilton's existing debt. The restructuring extends the maturity of this debt until November 2015 and reduces the company's total debt by nearly $4 billion. The transaction was effected through the purchase and retirement of $1.8 billion of debt and the conversion of $2.1 billion of junior mezzanine debt to preferred equity.
In 2007, the Firm represented Blackstone in its $26 billion acquisition of Hilton, the largest acquisition ever of a hotel company.
The Simpson Thacher team working on the transaction includes: Greg Ressa, Sas Mehrara, Erik Quarfordt, Bryan Gordon, John Lewis and Frank Giovinazzo (Real Estate - NY); Farhad Karim, Clare Gaskell, Nathan Hagerman, Elizabeth Jin and Brian Ferry, and Tom Lloyd (London); Brian Stadler, Chris May, Markus Lotz and Chase D'Agostino (M&A); Gary Mandel and Noah Beck (Tax); and Mindy Lok (Intellectual Property).