MCLEAN, Va.--(BUSINESS WIRE)--Nov 16, 2020--
Hilton Worldwide Holdings Inc. (NYSE: HLT) (“Hilton”) announced today that its indirect subsidiary Hilton Domestic Operating Company Inc. (the “Issuer”) successfully upsized and finalized the terms of the Issuer’s offering of $800 million aggregate principal amount of 3.750% Senior Notes due 2029 and $1.1 billion aggregate principal amount of 4.000% Senior Notes due 2031 (collectively, the “Notes”). The aggregate principal amount of Notes to be issued in the offering was increased to $1.9 billion from the previously announced $1.0 billion. The Issuer anticipates that consummation of the offering will occur on December 1, 2020, subject to customary closing conditions, and intends to use the proceeds of the offering together with available cash to (i) redeem all of its outstanding 4.250% Senior Notes due 2024 and (ii) use the remainder of the net proceeds to redeem all of its outstanding 4.625% Senior Notes due 2025.
The Notes offered have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws. The Notes may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The Notes were offered, by the initial purchasers, only to persons reasonably believed to be “qualified institutional buyers” in reliance on the exemption from registration provided by Rule 144A under the Securities Act and to certain non-U.S. persons in offshore transactions in reliance on Regulation S under the Securities Act.
This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act, and it is neither an offer to sell nor a solicitation of an offer to buy any securities and shall not constitute an offer to sell or a solicitation of an offer to buy, or a sale of, the Notes or any other securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include but are not limited to, statements related to our expectations regarding the impact of the COVID-19 pandemic, the performance of our business, our financial results, our liquidity and capital resources and other non-historical statements. In some cases, you can identify these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “projects,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties, including, among others, risks inherent to the hospitality industry, macroeconomic factors beyond Hilton’s control, risks related to the impact of the COVID-19 pandemic, competition for hotel guests and management and franchise contracts, risks related to doing business with third-party hotel owners, performance of Hilton’s information technology systems, growth of reservation channels outside of Hilton’s system, risks of doing business outside of the United States of America and Hilton’s indebtedness. Accordingly, there are or will be important factors that could cause Hilton’s actual outcomes or results to differ materially from those indicated in these statements. Hilton believes these factors include but are not limited to those described under the section entitled “Part I—Item 1A. Risk Factors” of Hilton’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019, filed with the Securities and Exchange Commission (“SEC”), as updated under “Part II. Other Information—Item 1A. Risk Factors” of Hilton’s Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2020, filed with the SEC, as such factors may be further updated from time to time in Hilton’s periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in Hilton’s filings with the SEC. Hilton undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.
View source version on businesswire.com:https://www.businesswire.com/news/home/20201116006070/en/
CONTACT: Investor Contact
Jill Slattery
+1 703 883 6043Media Contact
Nigel Glennie
+1 703 883 5262
KEYWORD: VIRGINIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: OTHER TRAVEL LODGING TRAVEL VACATION
SOURCE: Hilton Worldwide Holdings Inc.
Copyright Business Wire 2020.
PUB: 11/16/2020 06:18 PM/DISC: 11/16/2020 06:18 PM
http://www.businesswire.com/news/home/20201116006070/en
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November 17, 2020 at 06:18AM
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Hilton Announces Upsizing and Pricing of Senior Notes Offering - The Baytown Sun
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