Hilton Worldwide Holdings Inc. HLT announced today the
pricing of its initial public offering of 117,640,624 shares of common stock
at a price to the public of $20.00 per share. Hilton Worldwide is offering
64,102,564 of such shares and a selling stockholder is offering 53,538,060 of
such shares. The selling stockholder has granted the underwriters an option to
purchase up to an additional 17,646,093 shares at the initial public offering
price less the underwriting discount. The shares are expected to begin trading
on the New York Stock Exchange on December 12, 2013 under the ticker symbol
“HLT.” The offering is expected to close on December 17, 2013, subject to
customary closing conditions.
Hilton Worldwide intends to use the net proceeds from the offering and
available cash to repay approximately $1.25 billion of term loan borrowings
outstanding under its senior secured credit facilities.
Deutsche Bank Securities, Goldman, Sachs & Co., BofA Merrill Lynch, Morgan
Stanley, J.P. Morgan and Wells Fargo Securities are acting as joint
bookrunners. Blackstone Capital Markets, Macquarie Capital, Barclays,
Mitsubishi UFJ Securities, Citigroup, Credit Suisse, HSBC, RBS, Baird, Credit
Agricole CIB, Nomura, Raymond James, RBC Capital Markets, UBS Investment Bank,
CastleOak Securities, L.P., Drexel Hamilton, Telsey Advisory Group and Ramirez
and Co., Inc. are acting as co-managers.
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