Hilton Worldwide Enters Material Definitive Agreement

TL;DR

Hilton just signed a big new deal, watch their financials.

AI Summary

Hilton Worldwide Holdings Inc. entered into a material definitive agreement on March 26, 2024, related to a direct financial obligation. The filing details the creation of this obligation under an off-balance sheet arrangement. Specific financial terms and parties involved in the agreement are not detailed in this summary section of the filing.

Why It Matters

This filing indicates a new financial commitment or obligation for Hilton Worldwide, which could impact its financial structure and future operations.

Risk Assessment

Risk Level: medium — Material definitive agreements can introduce new financial obligations or risks that may not be immediately apparent.

Key Players & Entities

• Hilton Worldwide Holdings Inc. (company) — Registrant

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value per share HLT New York Stock
• $550 million — s Inc. (the "Company"), issued and sold $550 million aggregate principal amount of 5.875% Se
• $450 million — r Notes due 2029 (the "2029 Notes") and $450 million aggregate principal amount of 6.125% Se
• $200 million — te purposes, including the repayment of $200 million of indebtedness under the senior secure

Filing Documents

• hlt-20240326.htm (8-K) — 37KB
• exhibit41-8xk.htm (EX-4.1) — 1094KB
• 0001585689-24-000062.txt ( ) — 1437KB
• hlt-20240326.xsd (EX-101.SCH) — 2KB
• hlt-20240326_lab.xml (EX-101.LAB) — 23KB
• hlt-20240326_pre.xml (EX-101.PRE) — 13KB
• hlt-20240326_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. Indenture with respect to 5.875% Senior Notes due 2029 and 6.125% Senior Notes due 2032 On March 26, 2024, Hilton Domestic Operating Company Inc. (the "Issuer"), an indirect subsidiary of Hilton Worldwide Holdings Inc. (the "Company"), issued and sold $550 million aggregate principal amount of 5.875% Senior Notes due 2029 (the "2029 Notes") and $450 million aggregate principal amount of 6.125% Senior Notes due 2032 (the "2032 Notes" and, together with the 2029 Notes, the "Notes"), in each case, under an Indenture, dated as of March 26, 2024 (the "Indenture"), by and among the Issuer, the Company, as a guarantor, the other guarantors party thereto and Wilmington Trust, National Association, as trustee (in such capacity, the "Trustee"). The Notes were sold 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 of 1933, as amended (the "Securities Act"), and to non-U.S. persons outside the United States in reliance on Regulation S under the Securities Act. The Notes were issued at 100% of their par value and bear interest at a rate of 5.875% per annum, in the case of the 2029 Notes, and 6.125% per annum, in the case of the 2032 Notes. Interest on each series of Notes is payable semi-annually in arrears on April 1 and October 1, beginning October 1, 2024. The 2029 Notes mature on April 1, 2029 and the 2032 Notes mature on April 1, 2032. The net proceeds of the offering of the Notes will be used for general corporate purposes, including the repayment of $200 million of indebtedness under the senior secured revolving credit facility, investments and acquisitions. Ranking; Guarantees The Notes are the Issuer's senior unsecured obligations, ranking equally in right of payment with all of the Issuer's existing and future senior indebtedness and senior in right of payment to all of the Issuer's existi

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 4.1 Indenture, dated as of March 26, 2024, by and among Hilton Domestic Operating Company Inc., the guarantors from time to time party thereto and Wilmington Trust, National Association, as trustee. 4.2 Form of 5.875% Senior Note due 2029 (included in Exhibit 4.1). 4.3 Form of 6.125% Senior Note due 2032 (included in Exhibit 4.1). 101 Interactive Data File - XBRL tags are embedded within the Inline XBRL document. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. HILTON WORLDWIDE HOLDINGS INC. By: /s/ Kevin J. Jacobs Name: Kevin J. Jacobs Title: Chief Financial Officer and President, Global Development Date: March 27, 2024

View Full Filing

View this 8-K filing on SEC EDGAR