Hilton will start marketing new high-yield bond Thursday
NEW YORK, Sept 18 (IFR) - Hilton Worldwide will begin marketing a USD3.25 billion high-yield bond on Thursday as part of a multi-billion refinancing ahead of its initial public offering, one of the banks managing the deal said on Wednesday.
The bond will be split between a USD1.25 billion eight-year non-call three year first-lien senior secured note and a USD2 billion senior note that will include an eight-year non-call five tranche and a 10-year non-call three.
Bank of America Merrill Lynch will be left lead. Deutsche Bank, Goldman Sachs, Morgan Stanley, JP Morgan and Wells Fargo are joint bookrunners.
The roadshow for the deal will begin on Thursday, with pricing scheduled for early to mid next week.
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