Hilton Sells $200 Million in 30-Year Bonds
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Bloomberg News
Hilton Hotels Corp., owner of Doubletree and Hilton hotels, said it sold $200 million in 30-year bonds to retire debt.
The sale marked the first time Beverly Hills-based Hilton has sold bonds in the retail market, the company said. The bonds carry a coupon of 8% and mature Aug. 15, 2031. The bonds are rated “BBB-” by Standard & Poor’s.
With the sale, Hilton pays an average of 6.88% on its total debt of $4.97 billion, with an average term of seven years, the company said.
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