Hilton’s $1.9 Billion Senior Notes Offering

Davis Polk advised the representative of the initial purchasers in connection with the offering. Simpson Thacher & Bartlett represented Hilton Worldwide Holdings.

Hilton Domestic Operating Company Inc., an indirect subsidiary of Hilton Worldwide Holdings Inc., executed the offering of $800 million aggregate principal amount of its 3.750% senior notes due 2029 and $1.1 billion aggregate principal amount of its 4.000% senior notes due 2031. Hilton intends to use the net proceeds from the offering, together with available cash, to redeem all of its outstanding 4.250% senior notes due 2024 and 4.625% senior notes due 2025, and to pay the related redemption premiums, fees and expenses related thereto.

Hilton is a global hospitality company, with a portfolio of 18 world-class brands comprising more than 6,333 properties with more than 998,282 rooms in 118 countries and territories.

The Davis Polk corporate team advising J.P. Morgan Securities LLC, for itself and on behalf of the several initial purchasers, included partners Michael Kaplan (Picture) and Marcel Fausten and associates Dan Gibbons and Michael Jiang. Partner William A. Curran and associate Tomislava Dragicevic provided tax advice. Counsel Loyti Cheng provided environmental advice. Counsel Daniel F. Forester provided intellectual property advice.

Simpson Thacher & Bartlett represented Hilton with a team including Edgar Lewandowski and Clark Warthen (Capital Markets – NY); William Golden and Jonathan Pacheco (Capital Markets – D.C.); Brian Gluck, Leah Nudelman and Julia Levenson (Credit); Andrew Purcell and Zachary Fialkow (Tax); Greg Grogan, Jamin Koslowe and Monisha Bhayana (Executive Compensation and Employee Benefits); Adeeb Fadil (Environmental); and Bradley Goldberg and Charles Mathes (Public Company Advisory Practice).

Involved fees earner: Loyti Cheng – Davis Polk & Wardwell; William Curran – Davis Polk & Wardwell; Tomislava Dragicevic – Davis Polk & Wardwell; Marcel Fausten – Davis Polk & Wardwell; Daniel Forester – Davis Polk & Wardwell; Dan Gibbons – Davis Polk & Wardwell; Michael Jiang – Davis Polk & Wardwell; Michael Kaplan – Davis Polk & Wardwell; Monisha Bhayana – Simpson Thacher & Bartlett; Adeeb Fadil – Simpson Thacher & Bartlett; Zachary Fialkow – Simpson Thacher & Bartlett; Brian Gluck – Simpson Thacher & Bartlett; Bradley Goldberg – Simpson Thacher & Bartlett; William Golden – Simpson Thacher & Bartlett; Gregory Grogan – Simpson Thacher & Bartlett; Jamin Koslowe – Simpson Thacher & Bartlett; Julia Levenson – Simpson Thacher & Bartlett; Edgar Lewandowski – Simpson Thacher & Bartlett; Charles Mathes – Simpson Thacher & Bartlett; Leah Nudelman – Simpson Thacher & Bartlett; Jonathan Pacheco – Simpson Thacher & Bartlett; Andrew Purcell – Simpson Thacher & Bartlett; Charles Clark Warthen – Simpson Thacher & Bartlett;

Law Firms: Davis Polk & Wardwell; Simpson Thacher & Bartlett;

Clients: Hilton Worldwide; J.P. Morgan Securities LLC;

Author: Ambrogio Visconti