The Firm recently represented Hilton Worldwide Finance LLC and Hilton Worldwide Finance Corp., as co-issuers in connection with a Rule 144A/Regulation S offering of $900 million aggregate principal amount of their 4.625% Senior Notes due 2025 and $600 million aggregate principal amount of their 4.875% Senior Notes due 2027. The Firm also represented Hilton in connection with an amendment to its existing senior secured credit facilities that, among other things, reduced the interest rate margin on all of its outstanding term B-2 loans and refinanced all of its outstanding term B-1 loans with new term B-2 loans. Hilton applied the net proceeds from the senior notes offering, together with available cash, to redeem all $1.5 billion aggregate principal amount of its 5.625% Senior Notes due 2021.
The co-issuers of the senior notes are indirect subsidiaries of Hilton Worldwide Holdings Inc. (NYSE: HLT). Hilton is a leading global hospitality company, with a portfolio of 14 world-class brands comprising more than 4,900 properties with over 800,000 rooms in 104 countries and territories. The company's portfolio includes Hilton Hotels & Resorts, Waldorf Astoria Hotels & Resorts, Conrad Hotels & Resorts, Canopy by Hilton, Curio – A Collection by Hilton, DoubleTree by Hilton, Tapestry Collection by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, Tru by Hilton, Homewood Suites by Hilton, Home2 Suites by Hilton and Hilton Grand Vacations. The company also manages an award-winning customer loyalty program, Hilton Honors.
The Simpson Thacher team included Edgar Lewandowski, Jessica Asrat and Jennifer Rosen (Capital Markets – NY); Joshua Ford Bonnie, William Golden and Jonathan Pacheco (Capital Markets – D.C.); Brian Gluck, Benjamin Baucom, Katherine Chen and Davis Mahon (Credit); John Hart, Andrew Purcell and George Davis (Tax); Greg Grogan, Aimee Adler and Jennifer Pepin (Executive Compensation and Employee Benefits); Adeeb Fadil (Environmental); Lori Lesser and Linda Nyberg (IP); and Ellen Smiley (Public Company Advisory Practice).